Doha Bank says signs $575m, two-year loan

Facility was increased from the original $500m amount the lender had been seeking to borrow
Doha Bank says signs $575m, two-year loan
By Reuters
Sun 13 Dec 2015 04:16 PM

Qatar's Doha Bank has signed a two-year $575 million syndicated unsecured loan for general corporate purposes, it said in a statement on Sunday.

The facility was increased from the original $500 million amount the bank had been seeking to borrow, the statement said.

The loan pays a margin of 75 basis points per annum over Libor and has a bullet repayment at the end of the two-year tenor, the statement said. The bank has the option of a one-year extension at the end of the second year, it added.

Bank of China, China Construction Bank, Commerzbank Aktiengesellschaft, Filiale Luxemburg, ING Bank, Mizuho Bank, Wells Fargo were among the banks acting as bookrunners and mandated lead arrangers, Doha Bank added.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.