The banks joining the deal were: Arab Banking Corporation, Bank of Bahrain & Kuwait, Bank of Tokyo-Mitsubishi-UFJ, BNP Paribas, Calyon, Citigroup, Commercialbank, DNB Nord, HSBC, Qatar National Bank, Societe Generale, Standard Chartered Bank and Sumitomo-Mitsui Banking Corporation (SMBC). The margin is 35 basis points (bp).

The presence of so many international banking heavyweights is understood to have been partly driven by plans by Nakilat for a debt programme worth up to $8,000 million to fund liquefied natural gas (LNG) vessels for the Qatargas II and Qatargas 3 projects, and other future charters. The programme is expected to include export credit agency, bond and bank financing. SMBC is Nakilat’s overarching financial adviser.