Turkish private sector development bank, Turkiye Sinai Kalkinma Bankasi (TSKB), has closed its annual loan refinancing. The deal was signed amid secondary spreads for Turkish bank paper tightening and as a precursor to the next wave of refinancings for the country's financial institutions.
The $177m-equivalent loan is comprised of two tranches: a $67.5m tranche and a €97.5m tranche. Both have tenors of 367 days.
The margin on the facility is 200bp, TSKB said in a statement, though fees have not yet been confirmed.
The facility is being provided by 12 banks from 12 countries.