Garanti Bank signs after syndicate scale-backs

Garanti Bank has signed a Eu700m one year dual-currency facility, having increased the size of the pre-export financing from a planned Eu600m after it was more than 45% oversubscribed.

  • 05 May 2010

Some 41 banks participated in the loan, which was split into tranches of $116.936m and Eu617.75m, and although the facility was increased, borrowers still had their commitments scaled back.

The term loan, which will be used to prefinance export contracts, has a margin of 75bp.

The bank will ...

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