Akbank set to kickstart refi season for Turkish banks

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By Mariam Meskin
18 Sep 2020

Despite a plethora of risks for Turkish assets, including the lira hitting fresh lows and both banks and the sovereign facing downgrades, the bi-annual refinancing season for Turkish banks is up and running. According to lenders, Akbank will open the market with a deal likely to close soon.

The syndicated loan, according to sources near the deal, is already in the market. It will refinance Akbank’s existing $812m-equivalent signed in October 2019. That deal had one year tranches of $402m and €373.5m.

Like most top-tier Turkish banks, Akbank visits the international loan market at least twice a ...

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