QNB Issues EUR 2 billion Senior Unsecured Term Loan Facility

Doha, March 06 (QNA) - QNB Group announced the successful closing of the syndication for its EUR 2.0 billion, three-year senior unsecured term loan facility. QNB Group, Acting Group CEO Abdulla Mubarak Al-Khalifa stated that "QNB Group is very happy at the successful closing of this syndication, which is a reflection of the strong demand by the Top Tier Global Banks that want to continue to partner with QNB Group. This further reflects the international investor's confidence in the Group's strategy and the strength of our financial position particularly following the recent announcement of our robust 2018 financial results." Due to strong demand from the market, QNB received commitments of circa EUR 3.5 billion resulting in a significant oversubscription and the syndication was well supported by the 18 participating banks. Despite the excess commitments received, QNB decided to reduce the overall issuance and closed the transaction successfully at EUR 2.0 billion. The group also announced that it had repaid in full the previous loan of EUR 2.25 billion syndicated loan. (QNA)