Turkey signs submarine financing with international banks

The Republic of Turkey has signed a Eu309m underwritten loan that will be used to finance the production of six submarines.

  • 01 Feb 2011

The five year deal has a two year extension option at the discretion of the borrower and carries a margin of 150bp over Euribor.

Initial mandated lead arranger and bookrunner WestLB underwrote the transaction for the sovereign. ING joined the deal as mandated lead arranger and bookrunner, with Isbank, ...

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