Wednesday, April 9, 2008

GarantiBank International gets EUR 225mn syndicated loan.

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GarantiBank International gets EUR 225mn syndicated loan. Local lender Garanti Bankasi’s Netherlands-based subsidiary GarantiBank International N.V. (GBI) announced that it secured a EUR 225mn syndicated loan facility. The loan was launched at EUR 200mn however closed oversubscribed and GBI accepted to increase the amount to EUR 225mn. The facility has a maturity of 364 days and the interest margin is Libor+0.30%. The Bank of New York and BayernLB acted as book-runners and 20 other lenders, including ABN Amro N.V, Standard Chartered, American Express GmbH, JPMorgan Chase Bank, and Citi, contributed to the loan. GBI will utilise the loan to finance export.

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GarantiBank International gets EUR 225mn syndicated loan.

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