Finansbank snubs $470m refi

Turkey’s Finansbank has decided not to refinance a $470m syndicated loan due next month, in a sign that country’s banks will hold back from tapping the market until prices improve further.

  • 29 Oct 2009
Finansbank, seen as one of Turkey’s top financial institutions given that it is majority-owned by National Bank of Greece, had been talking to its lenders about extending the facility for a year. The about turn this week comes amid mounting complaints by international lenders that Turkey’s borrowers are ...

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