Shockwave of Garanti’s 125bp RFP raises 100bp fears for 2013

Fears are growing that Turkish bank borrowers might be able to command a return to all-ins of 100bp for their 2013 loans as their tour de force in the capital markets continued this week. Garanti Bank approached its lenders with a refinancing request that has shaved another 10bp off an already reduced pricing benchmark for Turkish deals.