We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 30 Sep 2014 01:27 PM

Font Size

- Aa +

Qatar's Ahli Bank signs $200m syndicated loan

Doha-based bank says funds provided by group of 11 lenders will be used for general business needs

Qatar's Ahli Bank signs $200m syndicated loan

Doha's Ahli Bank has signed a $200 million three-year loan with a group of 11 lenders, Qatar's eighth-largest bank by assets said on Tuesday, with the funds to be used for its general business needs.

The loan, which initially targeted to raise $100 million but was increased in size following interest from participating banks, will pay an interest rate of 120 basis points over the London interbank offered rate (Libor), a filing to the Qatar stock exchange said.

Bookrunners for the deal, which is Ahli Bank's first syndicated loan, were Barclays, Commerzbank, HSBC and First Gulf Bank. Seven other regional and international banks also joined the transaction.

Arabian Business: why we're going behind a paywall

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.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.