Qatar National Bank (QNB), the Gulf Arab state's largest lender, signed a $1.8 billion, three-year loan which was expanded from its original amount after attracting strong demand from banks during a marketing period, it said on Wednesday.
Originally $1.5 billion but increased after it was oversubscribed during the syndication period, the loan saw 10 banks join the five original bookrunners on the deal, a source with knowledge of the matter said, speaking on condition of anonymity as the information isn't public.
The significant interest in the facility from banks comes despite the loan paying a margin of just 1 percent over the London interbank offered rate (Libor) per annum, a figure which would be below the cost of funding for many banks on the deal.
No comments:
Post a Comment