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Qatar’s Ahli Bank to finalise  3 year loan in region of $180m

Qatar’s Ahli Bank to finalise 3 year loan in region of $180m

DOHA: Qatar’s Ahli Bank is completing a three-year club loan financing expected to be in the region of $180 million, said two banking sources with direct knowledge of the situation.

The loan, launched in the market at the end of August, is self-coordinated, said the sources, meaning the fundraising process is arranged by the borrower. The loan documentation is being finalised and the facility is expected to be signed in one or two weeks, noted one of the two sources.

Qatar’s Ahli Bank did not immediately respond to a request for comment. The Qatari bank was in talks with lenders earlier this year for a $250 million three-year loan, as reported by Reuters in May.

The new facility would partly refinance a $200 million three-year loan the lender raised in September 2014. That loan paid a margin of 120 basis points over the London interbank offered rate (Libor) and was led by bookrunners Barclays, Commerzbank, HSBC and First Gulf Bank.

The bank issued in April this year a debut $500 million five-year bond with a spread of 260 basis points over midswaps. Barclays, HSBC and QNB Capital arranged the issue.