Doha Bank closes $150m debut syndication

22 October 2004
Doha Bankhas closed its debut syndicated loan transaction, worth $150 million and lead arranged by Arab Banking Corporation (ABC), Barclays Capital, Calyon and National Bank of Abu Dhabi. The issue closed oversubscribed but was not upsized.

Thirteen banks joined at syndication. They were Baden Wurttembergische Bank, Bank Austria Creditanstalt, Bank fuer Arbeit und Wirtschaft, Bank of Tokyo-Mistubishi, Commercial Bank of Qatar, First Commercial Bank, First Gulf Bank, Gulf International Bank (GIB), International Bank of Qatar, Raiffeisen Zentralbank Osterreich Aktiengesellschaft, Sanpaolo IMI Bank Ireland, Sumitomo-Mitsui Banking Corporationand Tunis International Bank.

Several other syndications in the market have attracted strong interest.

A $40 million loan for Alliance Housing Bank, lead arranged by Bank Muscatand West LB, closed oversubscribed on 20 October. Syndication was due to be launched in mid-October on a $150 million facility for Ahli United Bank London, lead arranged by Commerzbank, HSBC and Lloyds-TSB, and syndication is scheduled to be launched imminently on a $150 million facility for Bank of Kuwait & the Middle East, lead arranged by ABC, GIB and Commerzbank.

Second-tier syndication is also under way on a $400 million facility for ABC, managed by a 14-strong lead arranging group (MEED 8:10:04).

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