Garanti refi book exceeds $1bn

Garanti Bank PA 230x150
By Mariam Meskin
17 May 2019

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, ...

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