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Sun 29 May 2016 10:59 AM

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Qatar National Bank says closes syndication of $2.5bn 3-yr loan

Loan facility, which was increased due to "strong market over-subscription", will be used for general corporate purposes

Qatar National Bank says closes syndication of $2.5bn 3-yr loan

Qatar National Bank (QNB) has closed the syndication of a 2.25 billion euro ($2.50 billion), three-year loan, it said on Sunday.

The loan facility, in which 14 banks participated, was increased from 1.5 billion euros due to "strong market over-subscription", QNB said in a bourse statement.

The loan's annual interest rate is EURIBOR plus 1.05 percent. The money will be used for general corporate purposes, it added.

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