The Commercial Bank of Qatar, the largest private sector bank in the country, said it has agreed a $380 million term loan facility with a club of international banks.

The facility, which has a tenor of one year and a margin of 90 basis points over a Reference Rate /Libor, will be used for general funding purposes, a company statement said.

The arrangers and providers of the term loan facility are BNP Paribas, The Bank of Tokyo-Mitsubishi UFJ, Limited, Commerzbank Aktiengesellschaft, HSBC Bank Middle East Limited, Intesa Sanpaolo SpA, and Sumitomo Mitsui Banking Corporation Europe Limited.

The Facility Agent and Documentation Agent is BNP Paribas, the statement added.-Reuters