Qatar Aviation Leasing has launched the syndication of a $650m loan deal to the banking market, and has asked potential lenders to provide responses by mid-March.

The deal pays a margin of 250 basis points above the London interbank offered rate (Libor), with fees of 120 basis points above Libor.

It also benefits from a Qatar sovereign guarantee and will have a tenor of three years.

The deal has been underwritten and funded by the UK’s Standard Chartered and Germany’s Deutsche Bank (MEED 7:2:10).

Qatar Aviation Leasing is a company set up to purchase and lease aircraft to Qatar Airways.