Qatar Airways signs QR4.5 bn loan facility pact with Qatari banks
For the first time in 28 years, Qatar Airways has signed a landmark agreement with leading local Qatari banks, led by Qatar National Bank (QNB), to secure QR4.5 billion in strategic financing. According to a statement from Qatar Airways on Wednesday, the financing will be provided by domestic banks in Qatar.
The syndication was fully underwritten and led by QNB Group as the sole and exclusive Book Runner, Global Coordinator, Initial Mandated Lead Arranger and Structuring Bank, while the lending banks include Ahlibank, Commercial Bank, Doha Bank, Dukhan Bank, Qatar Islamic Bank (QIB), and Qatar International Islamic Bank (QIIB). This new agreement will see an innovative approach taken whereby local banks lend in Qatari Riyals in both conventional and Islamic tranches and commercial terms in line with international benchmarks for a strategic financing transaction of this nature. (TNN) page 8
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