QNB Group, the largest financial institution in the Middle East and Africa, announced the successful closing of the syndication of its EUR 1.75 billion, three-year senior unsecured term loan facility.
During the syndication process, QNB received a large over subscription with the syndication well supported by 31 participating banks. The strong over subscription reflects investors’ confidence in QNB Group’s financial strength and its position as the largest financial institution in the Middle East and Africa region.Crédit Agricole Corporate and Investment Bank, ING Bank N.V., Intesa Sanpaolo S.p.A., Société Générale and UniCredit were the initial mandated lead arrangers and underwriters of the facility. Société Générale was the documentation agent and facility agent.