#Qatar National Bank to raise $3.5 billion loan - sources | Reuters

Qatar National Bank to raise $3.5 billion loan - sources | Reuters:

Qatar National Bank (QNB) QNBK.QA, the Gulf's biggest lender, plans to raise a $3.5 billion loan with a group of banks, said four sources familiar with the matter.

The planned transaction would refinance an existing $3.5 billion debt facility the bank raised in 2017 and which is due in December this year.

Two of the sources said HSBC will have a leading role in the deal. QNB did not immediately respond to a comment request while HSBC declined to comment.

The new loan will be split into two tranches with maturities of three and five years, said two of the sources. “It will be tightly priced, despite the progressive tenor,” added one of them.