Doha Bank Q.P.S.C. closes a 2 + 1 Year USD 525,000,000 Syndicated Senior Unsecured Term Loan Facility

Press Release

Doha Bank Q.P.S.C. closes a 2 + 1 Year USD 525,000,000 Syndicated Senior Unsecured Term Loan Facility

Doha Bank Q.P.S.C. (“Doha Bank” or “the Bank”) successfully closed a USD 525 Million syndicated senior unsecured term loan facility with a group of leading international and regional lending institutions.

The facility, which will be used for general working capital purposes, carries a margin of 100 basis points per annum over USD LIBOR and has a bullet repayment at the end of the two-year tenor (with a further one-year extension option exercisable at the discretion of lenders).

“The syndicated transaction was significantly oversubscribed and Doha Bank was able to upsize the facility from the originally target size of USD 400 million due to the excellent support from its relationship banks”, said Dr. R. Seetharaman, Chief Executive Officer of Doha Bank. “This is a reflection of the strong relationships Doha Bank enjoys with its lending group and a testament to the continued confidence these international banks place in both Doha Bank and the Qatari economy”, he added.

DB Tower

Australia and New Zealand Banking Group Limited, Commerzbank Aktiengesellschaft, Filiale Luxemburg, ING Commercial Banking, Mizuho Bank, MUFG Ltd and Wells Fargo Bank N.A. London Branch acted as Bookrunners and Mandated Lead arrangers, while The Commercial Bank of Qatar (P.S.Q.C) joined as Lead Arranger.

Wells Fargo Bank, N.A., London Branch also acted as Coordinator and Documentation Agent on the transaction, and is acting as the Facility Agent for the facility.

About Doha Bank

Doha Bank is one of the largest commercial banks in the State of Qatar. The bank was incorporated in 1978 and commenced its domestic and international banking services in Doha, Qatar on March 15, 1979. Doha Bank is engaged in conventional banking activities and operations through its head office in Qatar (Doha) and 27 local branches, six overseas branches in the United Arab Emirates (Dubai & Abu Dhabi), State of Kuwait, the Republic of India (two branches in Mumbai and one branch in Kochi) and representative offices in United Kingdom, Singapore, Turkey, China, Japan, South Korea, Germany, Australia, Hong Kong, Canada, Bangladesh, South Africa, Sri Lanka and Nepal. Doha Bank is a pioneer in the region in being able to offer cross border banking services through its vast network located in all major international markets across the globe. Doha Bank has the largest international network of representative offices among Qatari banks and operates principally through four business groups: Wholesale Banking, Retail Banking, International Banking and Treasury & Investments.

Net profit for the third quarter of 2018 recorded QAR 737 million as against QAR 1,049 million for the same period last year after taking significant loan loss provision in relation to the bank’s overseas branches. The interest income significantly grew by 10.6% as compared to the same period last year to reach QAR 2.9 billion. The net operating income stood at QAR 2.03 billion. Total assets amounted to QAR 90.4 billion as at 30 September 2018. Net loans and advances reached QAR 59.2 billion as at 30 September 2018, registering a growth of 0.3%. Doha Bank has adequate loan loss provision against non-performing loans. The investment portfolio amounted to QAR 20 billion, registering an increase of 14%. Customer deposits stood at QAR 51.9 billion as at 30 September 2018.

Doha Bank is rated “A” by Fitch and “BBB+” by Standard & Poor’s for its Long Term (LT) issuer default rating and “A3” by Moody’s for its Foreign LT deposits.

Doha Bank has received numerous awards in recognition of its achievements. It was adjudged as the ‘Best Regional Commercial Bank’-The Banker Middle East for the 4th straight year. Doha Bank was recently awarded ‘Bank of the Year-Qatar Domestic Trade Finance’ by Asian Banking & Finance. Additionally, Doha Bank has claimed various other awards such as ‘Bank of the Year-Qatar’-The Banker, ‘Best Commercial Bank in the Middle East-Global Banking and Finance, ‘Best Bank in Qatar-IAIR Award and Best Bank in Qatar-EMEA Finance. Recent notable awards include ‘Best Bank in Capital Position’ by New Age Banking Awards 2018 and ‘Most Innovative Bank in the Middle East’ by EMEA Finance 2017.