The original loan was oversubscribed during the syndication period, with 10 banks joining the original five bookrunners on the deal, a source told Reuters.
The loan, although below the cost of funding for many banks paying a margin of just one per cent over the London interbank offered rate (Libor) per annum, is said to be popular with banks wanting to build a relationship QNB.
The loan was initially marketed by Bank of Tokyo-Mitsubishi UFJ, Deutsche Bank, HSBC, JP Morgan and Standard Chartered, who all originally pledged to contribute $300 million each.
Their commitments have been scaled back following the syndication, Reuters reported a source as saying.
Banks joining the deal include Bank of China, DBS Bank, Mizuho, National Bank of Abu Dhabi , Bank of America-Merrill Lynch, Bank of New York Mellon, Barclays, Citi, Sumitomo Mitsui Banking Corp and Commercial Bank of Qatar.
*Source: CPI Financial