TEB signs refi at new benchmark
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 ...