Commercial Bank officials and the guests on the sidelines of the event.
DOHA: Commercial Bank has held a commemorative lunch as a means of thanking all Relationship Banks for their lending support which was provided throughout the closure of the $750m syndicated Senior Unsecured Term Loan Facility and led by Bank of America Merrill Lynch and Mizuho Bank as Joint Coordinators and Mandated Lead Arrangers.
The syndicated loan closure, which occurred in December 2018, attracted a high level of interest with 25 percent oversubscription displaying tremendous support that Commercial Bank enjoys with its Relationship Banks group. Commercial Bank decided to retain the original amount due to the strong liquidity position. Initially launched with a value of $750m, the transaction received strong interest from the market and closed significantly oversubscribed at a value of $975m. The lunch event, held at Commercial Bank Plaza, was attended by Commercial Bank Senior Management as well as all banks that were involved in the successful transaction.
As well as the Joint Coordinating Banks, in attendance at the lunch were the Mandated Lead Arranger banks for the syndicate which included Australia and New Zealand Banking Group Limited, Barclays Bank PLC, Citibank N.A., Commerzbank Aktiengesellschaft, and Standard Chartered Bank. In their role as Lead Arranger, HSBC Bank Middle East Limited staff members were also present, in addition to staff from UniCredit Bank AG who acted as Arranger and Credit Suisse (Switzerland) Ltd., Doha Bank, Morgan Stanley, Erste Group Bank AG who acted as Lead Managers.
Fahad Badar, EGM International Banking, said: “The commemorative lunch held today provides an opportunity for Commercial Bank to reiterate our gratitude for the level of confidence and support maintained by all parties involved in the facilitation of a successful syndication. The joint effort which took place in December 2018 demonstrated the continued investor confidence in Commercial Bank’s financial performance and management, as well the strength of the Qatari economy despite the economical circumstances which the nation has faced.”
