Three follow Akbank into Turkish refi season

By Mariam Meskin, Silas Brown
12 Mar 2019

Garanti Bank, Turk Eximbank and Ziraat Bank have begun refinancing one year loans, according to two loans bankers. Pricing is said to be in line with Akbank, which launched a refinancing in early February.

Bank of America, Emirates NBC, ICBC and Standard Chartered co-ordinated Akbank’s $600m-equivalent transaction, which was priced at 250bp over Libor and 240bp over Euribor.

This was some 25bp inside its previous refinancing in September. That level had widened thanks to a diplomatic spat between Turkey and the ...

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