Qatar National Bank says closes syndication of 2.25b-euro 3-year loan

DUBAI: Qatar National Bank/s (QNB) has closed the syndication of a 2.25 billion euro (Dh9.21 billion, $2.50 billion), three-year loan, it said on Sunday.

The loan facility, in which 14 banks participated, was increased from 1.5 billion euros due to “strong market oversubscription”, QNB said in a bourse statement.

The loan’s annual interest rate is EURIBOR plus 1.05 per cent. The money will be used for general corporate purposes, it added.