Qatar National Bank says signs $3bn loan deal

Gulf's largest bank signs three-year loan agreement with a group of 20 international lenders
Qatar National Bank says signs $3bn loan deal
By Reuters
Tue 17 Mar 2015 03:56 PM

Qatar National Bank (QNB) has signed a $3 billion three-year loan with a group of 20 international lenders, the Gulf's largest bank said in a statement on Tuesday.

The facility will be used to fund general operations of the bank and carries an interest rate of 60 basis points over the London interbank offered rate.

The announcement confirms a story from Reuters last week which said QNB had completed the loan and it has been oversubscribed by lenders.

QNB added in Tuesday statement that an existing $1.8 billion loan had been repaid prior to completing the new facility.

For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.

Subscribe to our Newsletter

Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.