QNB Group to Borrow $ 1.5 Billion

Doha, June 24 (QNA) - QNB Group has announced that it has mandated Bank of Tokyo-Mitsubishi UFJ, Ltd., Deutsche Bank A.G., HSBC Bank Middle East Limited, J.P. Morgan Limited, and Standard Chartered Bank, (together the "Initial Mandated Lead Arrangers" and "Book runners"), to arrange on its behalf a US$1.5 billion three year senior unsecured term loan facility. The loan Facility will be used for general corporate purposes, Qatar Exchange Website reported today. Qatar National Bank (QNB) was established in 1964 as the country's first Qatari-owned commercial bank, with an ownership structure split between Qatar Investment Authority (50%) and the private sector (50%). (QNA)