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QNB Finance gets regulatory approval for $17.5B debt program

The UK Listing Authority has approved QNB Finance Ltd.'s US$17.50 billion medium term note program, according to a statement.

The debt program, which includes senior notes and subordinated notes, is guaranteed by parent company Qatar National Bank (QPSC).

Net proceeds from the issuances will be loaned to Qatar National Bank under a notes loan agreement, and will be used by the parent company for general corporate purposes.

The Bank of New York Mellon, acting through its London branch, will serve as the fiscal agent and principal paying agent for the offering.