Turkey

Ülker has signed a $450m loan with 15 banks. It is the second time this year the Turkish biscuit maker has come to the market, with both loans oversubscribed despite political instability in its home country.

Turkish financial institutions Garanti Bankasi and Finansbank are expected to sign their refinancing loans this week, according to bankers looking at the deals.

Akbank AG, the Turkish bank’s German subsidiary, has made its comeback to the loan market after a three year absence, for a €173.5m syndicated loan.

Standard Chartered Bank has hired a DCM banker from Commerzbank to cover Turkish clients.

Albaraka Turk, Turkey’s first participation, or Islamic, bank, has signed a $101m murabaha loan with seven banks.

Turkish biscuit maker Ülker’s second loan of the year is expected to be increased from its launch amount of $350m as demand for the facility comes in.

Akbank AG, the Turkish bank’s German subsidiary, has signed a €173.5m syndicated loan with around 14 banks, according to a banker on the deal.

Two banks are co-leading Türkiye Garanti Bankasi’s second loan of the year, which will be used to refinance a $1.2bn facility due to mature this month.

Türkiye Garanti Bankasi has launched its second loan of the year as it refinances a $1.2bn facility due to mature this month.

Books for Credit Europe Bank’s $150m tier two bond were at $375m on Thursday afternoon as the bank set the launch price for the deal at 7.25% yield.

Books for Credit Europe Bank’s $150m tier two bond are at $375m as the bank sets the launch price for the deal at 7.25% yield.

Turkish biscuit maker Ülker has launched its second syndicated loan of the year for $350m, having been the first Turkish company to come to the market this year, in April.