DOHA, QATAR: Doha Bank has successfully completed the signing of a 3-year syndicated term loan facility on 20 December 2021.
The loan proceeds will be used to fund general corporate and working capital purposes of the bank, and it pays a margin of 85 basis points per annum over US Dollar LIBOR.
The term loan facility includes an option to extend the maturity by 1 year at the end of the initial 3-year term. The Facility was drawn in full on 23 December 2021.
Launched in November, the facility was originally targeting deal size of $350 million. It generated strong interest from existing and new relationship banks across EMEA and Asia regions, and the syndication was closed oversubscribed.
A total of 16 financial institutions joined the term loan facility, and it was was subsequently upsized to $762.5 million.
The strong response to the deal is a testament to Doha Bank’s good access to the capital markets, and deep relationships with a diverse range of lenders.
Mizuho Bank, Ltd. and Intesa Sanpaolo S.p.A. coordinated the transaction. Mizuho Bank is also the Facility Agent.
Doha Bank is one of the largest commercial banks in Qatar, incorporated in 1978 and commenced its banking services in Doha, Qatar on March 15, 1979. http://qa.dohabank.com