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