Garanti inks new Turkish FI price benchmark

30 Nov 2010

Turkey’s Garanti Bankasi has signed a $1bn deal with a syndicate of 49 banks, setting a new one year price benchmark. The new deal is priced at 120bp all-in at the top level.

That margin is inside levels obtained by other Turkish banks this year. On Monday, Finansbank signed an $800m one year deal that pays 130bp all-in.

The dual-currency one year deal is split between $316.4m and Eu513.5m tranches. Standard Chartered acted as documentation facility agent and took the title of ...

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