The Turkish squeeze: Akbank and Vakif usher in new pricing benchmarks

24 Mar 2010

Turkey’s top tier banks are likely to keep on narrowing pricing on their syndicated loans following the blowout success of Akbank and Vakifbank’s deals, bankers said on Wednesday.

Vakif, which set out to replace $525m of loans repaid in December, will sign a $945m one year facility on Wednesday night in Istanbul. Akbank, replacing a $615m deal that also matured in December, will sign at $1.225bn on Thursday.

The two borrowers attracted plenty of demand despite paying ...

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