Turkey attracts clutch of syndicated loans

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01 September 2001

A $200 million credit facility for Turkiye Garanti Bank is moving into syndication with interest from European, Middle Eastern and US banks. The credit will be used for pre-export financing and so has a one year tenor carrying a margin of 80bp over Libor.
The deal features a large arranging group including Alpha Bank, American Express, Bankgesellschaft Berlin, Bank of New York, Bank of Tokyo-Mitsubishi, Barclays, BayernLB, Deutsche Bank, First Union Bank, IntesaBci, Mizuho, Natexis Banques Populaires and Sanwa.

A series of short-term deals, together with mergers, are marking the continued convulsions of the troubled Turkish trade and banking scene. This deal has in fact been helped by news that Intesa is looking...

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