(MENAFN- The Peninsula) The Peninsula
Doha: Doha Bank QPSC announced yesterday that it has successfully completed the signing of a 3-year syndicated term loan facility (the âFacilityâ) on December 20, 2021. The facility includes an option to extend the term of a year at the end of the initial 3-year term. The Facility was fully drawn on December 23, 2021.
Launched in November, the Facility originally targeted a $ 350,000,000 transaction. The facility generated strong interest from existing and new partner banks in EMEA and Asia, and the syndication was closed oversubscribed.
A total of 16 financial institutions joined the facility, and the facility was subsequently increased to $ 762,500,000. The strong response to the deal is a testament to Doha Bank’s good access to capital markets and its close relationship with a wide range of lenders.
The facility, where the loan proceeds will be used to fund general business and working capital needs of the bank, pays a margin of 85 basis points per year on US dollar LIBOR. Mizuho Bank, Ltd. and Intesa Sanpaolo SpA coordinated the transaction. Mizuho Bank is also the facility agent.
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