Vakifbank will be the second Turkish financial institution to tap the loan market in 2011. It is about to mandate an international bank to co-ordinate the refinancing of a $935m one year loan signed in March 2010.
As stalwarts of the loan market, borrowers from the Turkish banking sector will secure tighter margins this year, said FI loans bankers.
Vakifbank signed a dual-currency $170m and Eu566m one year deal with a group of 33 banks in March last year. It followed the transaction with a two