Akbank adds commitments but pays higher margin on loan

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By Dan Alderson
15 Aug 2014

Turkey’s Akbank has signed a $1.5bn-quivalent one year refinancing facility, with a higher margin from its most recent deal despite more banks coming in. The loan marks the start of the year’s second wave of Turkish bank refinancings, with Yapi Kredi and Isbank also in the market.

Akbank is paying a 55bp margin on the dual tranche facility, which comprises a $368m and €851m piece. This is up from 50bp on its first, $1.36bn facility refinancing in March this year, said a banker involved in the deal, but the all-in price has stayed ...

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