İşbank latest Turkish bank to refi loan

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By Mariam Meskin
21 May 2020

İşbank, Turkey's largest private bank by assets, is the latest financial institution from the country to refinance its existing debt, while managing to maintain competitive margins.

The dual currency $798.5m-equivalent loan has a tenor of one year and includes tranches of €539m and $207.5m. 

Margins on the deal are 200bp over Euribor and 225bp over Libor. These margins were first established for Turkish banks by Akbank, which raised a syndicated loan in March. 

Bank of America ...

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