Mubasher: Qatar National Bank (QNB) on Wednesday said that it has successfully completed a three-year $3.5 billion syndicated loan.

About 21 international banks were keen on providing the syndication which was upsized on the back of robust demand from the market, according to QNB’s statement to the Qatar Stock Exchange (QSE).

Fully underwritten by 9 underwriters, the credit facility will be used to boost the general corporate purposes, the Gulf's largest lender noted. 

The nine underwriters comprise Bank of America Merrill Lynch International Limited (BAML), the Bank of Tokyo-Mitsubishi UFJ, Ltd., Barclays Bank PLC, Deutsche Bank AG, London Branch, Intesa Sanpaolo S.P.A., QFC Branch, Mizuho Bank Ltd. (Mizuho), Standard Chartered Bank, Sumitomo Mitsui Banking Corporation and United Overseas Bank Limited, the statement showed. 

Moreover, BAML was appointed as the documentation Co-ordinator, while Mizuho was mandated as the syndication coordinator and facility agent, according to the statement.  

QNB said that it had already fully repaid its earlier loan of $3 billion before the issuance of the new loan.