Bank of China contributes to $250 million syndicated loan facility to Commercial Bank of Qatar for general corporate purposes (Linked to Record ID#98812)

Project narrative

On April 8, 2018, Bank of China (BOC) (#98811) and the Export-Import Bank of China (China Eximbank) (#98812) each contributed an estimated $35.7 million to a $250 million syndicated loan facility to Commercial Bank of Qatar (CBQ/'Commercial Bank') for general corporate purposes. The loan had a maturity date of 2 years with the option of a 1 year extension. Members of the lending syndicate included Bank of China, through its Doha branch, The Export-Import Bank of China, ICICI Bank's Doha branch, Shinhan Bank Co., KDB Asia Limited, and the Gunma Bank. Mizuho Bank also participated and acted as sole bookrunner, mandated lead arranger (MLA), and facility agent. The loan helped diversify the Commercial Bank's finances and attract new lenders during a particularly challenging time for the Qatar's regional banking market. At the time that the loan was contracted, lower oil and gas revenues caused public sector deposits in Qatar’s domestic banking system to shrink, tightening liquidity and driving its banks to raise funds abroad.