The National Bank of Abu Dhabi PJSC (NBAD), successfully closed a $455m club loan facility for Commercial Bank of Qatar. Despite challenging market conditions, the facility was undertaken by a selected group of banks raising $455m.
The group of lenders is geographically diversified among top banks names including National Bank of Abu Dhabi PJSC, SAMBA Financial Group and Commerzbank Aktiengesellschaft, as the Mandated Lead Arrangers, Australia and New Zealand Banking Group Limited, Singapore Branch, Deutsche Bank AG, Union National Bank PJSC and Wells Fargo Bank, National Association as the Lead Arrangers.
Founded in 1975, Commercial Bank of Qatar Q.S.C. (CBQ) is regulated by the Qatar Central Bank and is listed on the Qatar and London Stock Exchanges.
CBQ enjoys strong credit ratings of A/A1/A- from Fitch/Moody’s/Standard & Poor’s, respectively. The Bank was the first Qatari bank to list its Global Depository Receipts (GDRs) as well as bonds on the London Stock Exchange.
The National Bank of Abu Dhabi (NBAD) was incorporated in 1968 and is listed on the Abu Dhabi Securities Exchange (ADX), under stock code (NBAD).
NBAD’s overseas network stretches from Oman, Kuwait, and Bahrain in the G.C.C.; Egypt, Libya, and Sudan in Africa; UK, France, and Switzerland in Europe; Hong Kong and Jordan in Asia to Washington, D.C. in the U.S.A. Overall, NBAD has nearly 50 branches and 60 ATMs outside the UAE.
NBAD is rated senior long term/short term A+/A-1 by Standard and Poor’s, Aa3/P1 by Moodys and AA-/F1+ by Fitch giving it one of the strongest combined rating of any Middle Eastern financial institution.
Source: ameinfo
