Garanti refi book exceeds $1bn
Garanti Bank has closed its loan refinancing at $783m-equivalent after receiving an orderbook of over $1bn. The borrower has welcomed 14 new lenders, as banks demonstrate their commitment to troubled Turkey.
The 367 day dual tranche loan consists of a $326m tranche and a €408.75m tranche. At the time of signing the amount of the deal was $783m-equivalent.
Pricing on the deal is 250bp over Libor and 240bp over Euribor for the dollar and euro tranches respectively.The deal was heavily oversubscribed, ...