Shockwave of Garanti’s 125bp RFP raises 100bp fears for 2013

Fears are growing that Turkish bank borrowers might be able to command a return to all-ins of 100bp for their 2013 loans as their tour de force in the capital markets continued this week. Garanti Bank approached its lenders with a refinancing request that has shaved another 10bp off an already reduced pricing benchmark for Turkish deals.

  • 26 Oct 2012

Garanti, which is Turkey’s second largest private bank by assets, has sent out a request for proposals to lenders to refinance a $1.17bn-equivalent loan that is due to mature in December. The borrower is looking to pay 125bp all-in.

This is a full 20bp tighter than the original 2012 ...

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