Turkish banks target price cuts, lenders fear this is only the start
Emerging market lenders are bracing themselves for a pricing plunge. Two of Turkey’s top tier banks confirmed on Thursday that they are planning to use their spring refinancing loans to undercut the 125bp margin and fees benchmark paid by Garanti in November and demand as low as 100bp all-in.
And prices could be slashed further as the growing strength of Turkeys economy has made it all but inevitable that the countrys banks will eventually be capable of commanding sub-100bp all-in pricings on their syndicated loans, said lenders.
"It might not happen this time around," said a senior loans
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