QNB Group announced that it has successfully closed the arrangement of a USD 2.5 billion senior unsecured syndicated term loan.

A statement from QNB Group published today on the Qatar Stock Exchange website said the loan drew strong demand and broad participation from 25 international and regional banks, with total commitments exceeding twice the loan amount, including notable participation from 9 Asian banks with total commitments of about USD 1.25 billion.

Abdulla Mubarak Al-Khalifa, QNB Group CEO, said: "The strong demand for the loan confirms the confidence of banks from various global and regional markets in QNB Group. The loan attracted interest from banks across diverse markets, which helped broaden the base of banks we work with in loan financing."

He added that despite the challenges facing regional and global markets, the strong demand for the loan and the commitments exceeding its value clearly reflect confidence in QNB Group's creditworthiness. He noted that the transaction is a further sign of the group's progress toward its ambition of becoming one of the leading banks in the Middle East, Africa and Southeast Asia.

The group said the facility will be used for its general corporate purposes.

DBS, HSBC, ICBC, Mizuho and Standard Chartered acted as Initial Mandated Lead Arrangers and Bookrunners, with DBS and HSBC as syndication coordinators, Standard Chartered as documentation coordinator, and Mizuho as facility agent.