Turkish banks push for tightening in latest refi round

Turkey flag
By Mariam Meskin
05 Sep 2019

This year’s second Turkish bank refinancing wave has started and borrowers are pushing hard for tighter pricing. Akbank is expected to set the benchmark for its peers by securing tighter margins on its upcoming loan refi.

Akbank is refinancing a term loan that was signed in September 2018. That loan comprised a €591m ($694.68m at time of signing) tranche and a $285m tranche, both of which had a tenor of one year. The all-in pricing for that loan was 265bp over Euribor and 275bp over Libor. ...

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