Doha Bank closes $762.5 mn 3-yearterm loan facility

Doha Bank on Sunday announced that it has successfully completed the signing of a 3-year syndicated term loan facility on December 20, 2021. The 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 December 23, 2021. Launched in November, the facility was originally targeting a deal size of $350 million.
The facility 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 facility, and the facility 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.
The facility, where the loan proceeds shall be used to fund general corporate and working capital purposes of the bank, pays a margin of 85 basis points per annum over US Dollar LIBOR.
Mizuho Bank and Intesa Sanpaolo coordinated the transaction. Mizuho Bank is also the facility agent.