Turkey shines as Garanti raises $1bn

Turkey’s loan market continued its impressive march this week as Garanti Bank signed a $700m loan on Thursday. The borrower received commitments of over $1bn from 35 banks to confound critics of the deal’s 200bp all-in yield.

  • 19 Nov 2009

“The Turkish FI market has shown its strength again,” said a banker in Frankfurt. “It’s been sturdy all year. Lenders are increasingly vocal about borrowers becoming more aggressive, but these deals are still flying.”

The loan also marks the first time this year that a Turkish bank has managed ...

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Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

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1 Citi 73,217.70 205 13.50%
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