QNB raises US$1.8bn

QNB raises US$1.8bn

Published: August 15, 2012

Interest from international banks increases deal size.

Qatar National Bank (QNB) has secured US$1.8bn in a three-year, senior unsecured loan from a syndicate of banks.

The deal was oversubscribed, leading to QNB raising more than the US$1.5bn it was intending to raise.

Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, HSBC, JP Morgan and Standard Chartered were appointed initial mandated lead arrangers and bookrunners. Bank of Tokyo-Mitsubishi UFJ was also the facility agent.

The funds, for which the bank will pay 1% over Libor, will be used for general corporate purposes.