Turkish Is Bank seeks $800 million loan
Güncelleme Tarihi:
Reuters
Oluşturulma Tarihi: Temmuz 23, 2008 13:18
Turkey's Is Bank has appointed Bank of Tokyo-Mitsubishi UFJ to co-ordinate an $800 million, one-year syndicated loan, a banker said.
Haberin Devamı
Pricing has not yet been determined, but the pre-export financing is expected to pay 75 basis points over LIBOR -- the same as for rival Akbank's 1 billion euro, one-year loan that is currently in the market.
That's higher than the 67.5 bps paid by Turkiye Garanti Bankasi for its 600 million euro, one-year loan in May.
The increased pricing reflects the fact the cost of funding for lenders is rising, bankers said.
Is Bank's last loan was a $900 million, two-year club deal signed in April 2007. That deal paid 57.5 bps.