Garanti inks $1bn loan, setting price benchmark for Turkish FI transactions
Turkey’s Garanti Bankasi has signed a $1bn deal with a syndicate of 49 banks, setting a new one year price benchmark for other Turkish bank borrowers. The new deal was priced at 120bp all-in at the top level.
That margin is inside levels obtained by other Turkish financial institutions this year. On Monday, Finansbank signed an $800m one year deal that pays 130bp all-in (see EuroWeek 1179 for more).
Garantis dual currency one year deal is split between $316.4m and Eu513.5m tranches. Standard Chartered acted as documentation
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