Qatar National Bank Says Signs $3bn Three-Year Loan

Qatar National Bank (QNB) has signed a $3 billion three-year loan with a group of 20 international lenders, the Gulf’s largest bank said in a statement on Tuesday.

The facility will be used to fund general operations of the bank and carries an interest rate of 60 basis points over the London interbank offered rate.

The announcement confirms a story from Reuters last week which said QNB had completed the loan and it has been oversubscribed by lenders.

QNB added in Tuesday statement that an existing $1.8 billion loan had been repaid prior to completing the new facility.