QNB Closes Syndication of EUR 2.25 Billion Loan

Doha, May 28 (QNA) - Qatar National Bank (QNB) group announced that it has successfully closed syndication of its 3-year EUR 2,250,000,000 senior unsecured Euro term loan facility. The facility was upsized from EUR 1,500,000,000 due to strong market over-subscription by the 14 participating banks, QNB said in a press release today. QNB mandated Credit Agricole Corporate and Investment Bank and Societe Generale Corporate & Investment Banking as initial mandated lead arrangers, underwriters and book runners to arrange the facility. They were joined by ING Bank N.V. as initial mandated lead arranger. According to the statement, the new facility will be used for general corporate purposes and pays an interest rate of Euribor plus 1.05%. QNB Group, subsidiaries and associate companies operate in more than 27 countries around the world, across 3 continents, through more than 640 locations, supported by more than 1,400 ATMs and employing more than 15,300 staff. (QNA)