Turkey’s state-owned Vakifbank has hired Bank of America Merrill Lynch to co-ordinate a one year facility to refinance a $946m-equivalent existing loan. This is the third Turkish financial institution deal that BofAML has co-ordinated since the beginning of the year.
Vakifbank launched the deal earlier this week priced at 100bp all-in. This is the same pricing as the BofAML co-ordinated loans for Akbank and Ziraat Bank that are in the market now.
Vakifbanks loan will be split between euro and dollar tranches. The facility that the new loan is