OREANDA-NEWS. Doha Bank Q.S.C. (“Doha Bank” or “the Bank”) has signed a new USD 575 million syndicated senior unsecured term loan facility. The facility, which will be used for general corporate purposes, pays a margin of 75 bps per annum over USD LIBOR and has a bullet repayment at the end of the two year tenor.  A one year extension option may be exercised by the Bank at the end of the second year, with participation in any such extension at the sole discretion of each lender. 

Despite the prevailing challenging market conditions in the Middle East, the syndication transaction was oversubscribed. Doha Bank was able to upsize the facility from the original USD 500 million amount targeted due to excellent support from its relationship bank group, which is a testimony to the strong relationship it enjoys with these international banks and the trust and confidence these banks repose in Doha Bank relationship, commented Dr. R Seetharaman, Chief Executive Officer of Doha Bank Group. 

Bank of China (Hong Kong) Limited, China Construction Bank (Dubai) Limited, Commerzbank Aktiengesellschaft, Filiale Luxemburg, ING Bank N.V., Mizuho Bank, Ltd., and Wells Fargo Bank, N.A. joined the facility as Bookrunners and Mandated Lead Arrangers, with Australia and New Zealand Banking Group Limited and Wing Lung Bank Limited as Mandated Lead Arrangers.  The Commercial Bank (Q.S.C.) joined the facility as a Lead Arranger.