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GC Asia
Akbank drops benchmark to 130bp and goes for longer tenor as TSKB gets $105m
Akbank set a new pricing benchmark for top tier Turkish financial institution loans on Monday when it sent lenders term sheets for a one and two year facility.
Akbank, rated Ba3/-/BBB-, has asked for one year pricing of 130bp all-in at the top level — bringing the previous benchmark in from 150bp — and two year money paying 175bp all-in. Pricing will decrease slightly if Moody’s upgrades Akbank to an investment grade rating. Lenders have been
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