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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1 Bank of America Merrill Lynch (BAML) 3,319 10 12.84
2 Citi 2,562 6 9.92
3 Goldman Sachs 2,150 3 8.32
4 Credit Suisse 1,822 6 7.05
5 Societe Generale 1,814 4 7.02

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2 Bank of America Merrill Lynch 37,631.92 109 11.85%
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5 Credit Suisse 16,754.47 44 5.28%