OREANDA-NEWS. QNB Group has announced that it has successfully closed syndication of its USD3.0 billion three year senior unsecured term loan facility. The syndication was well supported by 20 International Banks and was over-subscribed.

The new loan Facility will be used for general corporate purposes. The interest rate is Libor plus 60bps per annum.  

Barclays Bank PLC and HSBC (the “Coordinators”), together with The Bank of Tokyo-Mitsubishi UFJ, Ltd., Deutsche Bank A.G., Mizuho Bank, Ltd., Standard Chartered Bank and Sumitomo Mitsui Banking Corporation were mandated as Initial Mandated Lead Arrangers and Book runners.  

The Group also announced that it had already prepaid in full the earlier existing loan of USD1.8 billion loan prior to issuing the above mentioned new loan Facility.