Thursday 21 June 2012

Qatar's QNB in $1.5 bln loan refinancing - sources | Reuters

Qatar National Bank , the Gulf Arab state's largest lender, has picked five banks to lead the syndication of a $1.5 billion loan refinancing, in a deal launched on Thursday, sources familiar with the matter said.

The three-year loan, which replaces a $1.85 billion facility set to mature on July 22, will be marketed by Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, HSBC , JP Morgan and Standard Chartered, four sources said.

The margin on the loan is 100 basis points over Libor, one of the sources said. The all-in pricing is said to be around the 115 bps mark, two of the sources said. All-in means the price includes both the interest rate attached to the loan and the fees which the banks will receive for taking part.

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