Lenders plough into Garanti refi
Turkey's Garanti Bank has raised an $800.7m-equivalent loan refinancing, which was oversubscribed and welcomed new participants.
The loan consists of a $229.5m tranche priced at 225bp over Libor and a €518.8m tranche priced at 210bp over Euribor. Both tranches have a tenor of 367 days.
That pricing is identical to that achieved by the other top tier Turkish banks during this refinancing season, including Akbank and Yapi Kredi Bank.31 lenders — ...