Turk Eximbank secures World Bank-guaranteed loan
Turkey Export-Import Bank has raised a €380m loan with a partial guarantee from the World Bank. The deal complements a successful first half of the year for Turkish lenders in capital markets, in which almost all the top tier banks have raised loans.
The two year €380m loan was priced at 283bp over Euribor and the World Bank has guaranteed half of it.
A consortium of international banks are providing the funding, including ING, Société Générale and Standard Chartered.Of the loan, 70% will be used for financing SMEs, with a further 10% going towards ...