Qatar National Bank is preparing a US$1.5 billion (Dh5.51bn) loan as it seeks additional capital ahead of a $1.85bn repayment coming due next month.
The bank, Qatar's largest lender, hired Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, HSBC Middle East, JPMorgan and Standard Chartered to arrange the loan. QNB is seeking a $1.5bn unsecured term loan repayable over three years.
The loan will be used for "general corporate purposes", the bank said in a statement to the Qatar Exchange, without giving further details. The funding would be the biggest yet arranged this year in Qatar, according to data from Bloomberg News. Banks have arranged $14.5bn of syndicated loans so far this year across the Middle East, Bloomberg data shows.
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