Isbank matches Turkish competitors with one year at 110bp

17 May 2011

Turkey’s Isbank has inked a new one year syndicated facility for $290m and Eu626m, paying a margin of 110bp. The loan, which has a one year extension option, was supported by 45 banks and will be used to finance international trade.

The Ba1/BB-/BBB- rated bank is paying the same amount for its funding as Yapi Kredi paid for its largest ever facility, a $1.45bn one year loan that was signed last month. Some 47 lenders supported the $300.5m and Eu795m deal.

The margin also matches that secured by Akbank, ...

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