QNB Group closes syndication of upsized term loan

Qatar-banking firm QNB Group closed a syndication of its upsized term loan facility was due to strong market over-subscription. The loan was upsized from €1.5bn to €2.25bn.

The syndication was well supported by the 14 participating banks.

Proceeds from the issuance of the new loan facility would be utilized for general corporate purposes.

The interest rate is Euribor plus 1.05 per cent per annum.

Source: CPI Financial