Turkey’s Halk Bankasi, a state-owned lender, has signed a $130m and Eu349m one year term loan, its first transaction in the syndicated loan market for over a decade.
The deal was signed on July 15 with a group of 27 banks. The transaction, coordinated by Standard Chartered was oversubscribed, attracting $570m of commitments. This exceeded the target amount and lenders had their commitments scaled back.
The one year facility carries an initial margin of 100bp and