QNB GROUP ANNOUNCES THE SUCCESSFUL REFINANCING OF ITS EURO SENIOR UNSECURED SYNDICATED TERM LOAN FACILITY

EURO 1 BILLION FACILITY

DOHA, Qatar, Oct. 20, 2024 /PRNewswire/ — QNB Group, the largest financial institution in the Middle East and Africa, announced the successful refinancing of its EURO senior unsecured syndicated term loan facility.

QNB’s Group CEO, Abdulla Mubarak Al-Khalifa, commented:

“This refinancing saw strong interest from both global and regional banks, allowing QNB to further expand its investor base. The transaction was significantly oversubscribed at competitive pricing,, despite the challenging global market conditions, which reinforces our reputation as a high-quality borrower. We view this transaction as a clear affirmation of our effective strategy to position ourselves as a leading bank in MEASEA, while building valuable and lasting relationships.”

The EURO 1 billion facility, with a maturity of three years, was well supported by both regional and international banks with 23 institutions joining the syndication allowing a substantial oversubscription.

The syndication was led by Crédit Agricole Corporate and Investment Bank, Société Générale and Standard Chartered (the Bookrunners & Initial Mandated Lead Arrangers). Standard Chartered acted as the Documentation Co-ordinator and Société Générale as Facility Agent.

QNB Group stands as the leading financial institution in the Middle East and Africa, recognized as one of the most valuable banking brands in the region. With a robust presence in over 28 countries across three continents, Asia, Europe, and Africa—QNB offers comprehensive financial services and solutions. QNB’s team of over 31,000 professionals is dedicated to driving growth and providing advanced, tailored products and services that meet the evolving needs of customers worldwide.

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SOURCE QNB Group