NBAD closes loan for Qatar bank

Abu Dhabi: The National Bank of Abu Dhabi (NBAD) successfully closed a $455 million (Dh1.67 billion) club loan facility for Commercial Bank of Qatar.

Despite challenging market conditions, the facility was undertaken by a selected group of banks, including NBAD, Samba Financial Group and Commerzbank AG as the mandated lead arrangers, and Australia and New Zealand Banking Group Ltd, Singapore Branch, Deutsche Bank AG, Union National Bank and Wells Fargo Bank, as the lead arrangers.

Background

Founded in 1975, Commercial Bank of Qatar is regulated by the Qatar Central Bank and is listed on the Qatar and London stock exchanges.