Garanti’s refi over the $1bn mark and still counting

Turkey’s Garanti Bankasi has raised Eu635m ($867m) and $377m in commitments from mandated lead arrangers on its one year refinancing loan and could obtain even more debt if lower tier banks commit to the deal.

  • 15 Nov 2010

Small retail lenders have been approached and may top up the $1.24bn total before Garanti signs the self-arranged facility on November 30. The MLA group comprises 26 banks.

Garanti, in which Spain’s BBVA recently bought a 24.9% stake for Eu4.2bn, approached the market to refinance a $679m one year ...

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