TEB signs refi at new benchmark

27 Aug 2012

Turk Ekonomi Bankasi (TEB) has signed a $435.5m-equivalent one year refinancing, becoming the second Turkish bank to sign a loan at a margin of 135bp this year.

The bank closed its $435.5m-equivalent loan late last week. It was split between a €250m ($313.5m) piece and a $122m tranche.

Standard Bank and Wells Fargo co-ordinated the deal.

TEB follows fellow Turkish borrower Akbank, which signed its $1.45bn-equivalent refinancing at 135bp all-in two weeks ago. Isbank ...

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