QatarEnergy Secures $3 Billion Chinese Loan
QatarEnergy has obtained a $3 billion loan from four Chinese banks for a period of five years.
Translated by Qiyas from الجريدة — Original source
Bloomberg reported that QatarEnergy secured a $3 billion loan from four Chinese banks for a five-year term to be used for working capital.
Last year, Chinese bank lending to the Gulf region surged to $11.5 billion. Qatar National Bank is also seeking a $2 billion loan in partnership with the Industrial and Commercial Bank of China.
The four lenders in the five-year facility were Bank of China Ltd, Industrial and Commercial Bank of China Ltd, Agricultural Bank of China Ltd, and China Construction Bank (Asia) Corp, according to people who requested anonymity while discussing private matters.
QatarEnergy’s loan highlights the key role Chinese banks continue to play in the region, even as tensions remain high.
Last year, Chinese bank lending to the Gulf more than quintupled to a record $11.5 billion, excluding bilateral loans, according to Bloomberg data.
While the conflict has prompted some banks to pull back, capital flows for syndicated deals remain broadly in line with 2024 lending patterns, standing at around $2.3 billion year-to-date.
