QNB Group Achieves Milestone with $2bn Asian Syndicated Loan

QNB Group, the preeminent financial institution in the Middle East and Africa, has successfully closed a significant $2 billion unsecured syndicated term loan facility aimed principally at Asian investors. The loan represents the largest such syndication ever achieved by a bank from the Gulf Cooperation Council (GCC) focused on Asia, and it reached competitive all-in pricing despite tumultuous global financial conditions. This accomplishment underscores QNB's strategy of establishing itself as a dominant banking force across the Middle East, Africa, and Southeast Asia (MEASEA) while cultivating robust, long-lasting relationships internationally. At the helm of this transaction was Mizuho, acting as the sole Coordinator, Mandated Lead Arranger, and Bookrunner. The loan, carrying a five-year maturity, not only demonstrates QNB's strong credentials but also marks an initial foray into a largely new investor base for the bank, enhancing its global network of investors. Abdulla Mubarak Al Khalifa, QNB Group's CEO, highlighted the oversubscription of the issuance, signaling strong interest from major Asian banks, and reaffirmed QNB's status as a high-quality issuer.