Turkey's Vakifbank back in loan market
WestLB is co-ordinating a refinancing deal for Turkey’s Vakifbank. The loan will refinance the one year portion of the $145m and €453m one year deal it signed in September 2010.
It will pay an all-in margin of 100bp, split between a 50bp margin and 50bp fees and matching the terms set by Akbank in June. The headline margin on the one year tranche of the 2010 deal was 75bp, versus the 50bp offered on the new deal.
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