Doha Bank closes $762.5mn term loan facility

Doha Bank has successfully completed the signing of a three-year syndicated term loan facility on December 20. The facility includes an option to extend the maturity by one year at the end of the initial three-year term. The facility was drawn in full on December 23.Launched in November, the facility was originally targeting deal size of $350mn. 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 $762.5mn. 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 co-ordinated the transaction. Mizuho Bank is also the facility agent.