Thursday, 9 February 2012 at 11:57, Reuters, Dubai
Commercial Bank of Qatar's loan will be used for general corporate purposes. (JUN CARGULLO/ALRROYA)
Commercial Bank of Qatar signed a $455 million term loan with a club of seven regional and international banks, it said in a statement to Qatar's bourse on Thursday.
The cash will be used for general corporate purposes, the bank said. It gave no further details on the loan, such as tenor or pricing.
National Bank of Abu Dhabi was the sole coordinating bank on the transaction, with Samba Financial Group and Commerzbank acting as mandated lead arrangers.
Other banks on the facility were Australia and New Zealand Banking Group (ANZ), Deutsche Bank, Union National Bank and Wells Fargo.
CBQ posted a 22 per cent jump in fourth-quarter profit last month on increased lending and deposits.
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