DOHA: QNB Group has successfully closed syndication of its $3bn three-year senior unsecured term loan facility. The syndication was well supported by 20 International lenders and was over-subscribed, the Bank announced here yesterday.
The new loan facility will be used for general corporate purposes. The interest rate is Libor plus 60bps per annum.
Barclays Bank PLC and HSBC (the “Coordinators”), together with The Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, Mizuho Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation were mandated as Initial Mandated Lead Arrangers and Bookrunners.
The Group also announced that it had already prepaid in full the earlier existing loan of $1.8bn prior to issuing the new loan facility.
