QALC opens Middle East with $650m deal
Qatar Aviation Lease Co, a state-owned entity recently established to buy and lease aircraft to Qatar Airways, on Monday became the first Gulf borrower to launch a syndicated loan since November’s standstill request from Dubai World.
Deutsche Bank and Standard Chartered have underwritten the $650m three year revolver, which is guaranteed by the State of Qatar (Aa2/AA-) and pays a margin of 250bp over Libor.
Regional and international lenders have been invited to join at one of three levels, with commitments due by March 11.
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