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Report: Qatar National Bank to raise $1B syndicated loan

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Report: Qatar National Bank to raise $1B syndicated loan

Qatar National Bank SAQ will raise a $1 billion, three-year syndicated loan from Asian lenders, with Agricultural Bank of China Ltd. having a leading role, Reuters reported Jan. 18, citing "sources familiar with the situation."

The Qatari lender asked banks to commit tickets ranging between $100 million and $300 million for the loan in mid-December, one of the sources told the newswire, adding that the loan will offer all-in pricing of 120 basis points over the LIBOR benchmark interest rate.

Qatar National Bank is partly owned by the Qatar Investment Authority, which was the top investor in Agricultural Bank of China's IPO in 2010, Reuters noted.