Turklandbank has closed a dual tranche club term loan via mandated lead arrangers Arab Bank, BayernLB, Commerzbank, RZB and Unicredit Group. Unicredit was represented through Bayerische Hypo-und Vereinsbank, Yapi Kredi Bank Nederland, and Bank of Austria Creditanstalt.
The loan comprises a US$66mn tranche and a €35mn portion. It pays a margin of 75 basis points (bps) per year, and has a final maturity of 364 days with repayment due in bullet form.
The loan is being raised for the refinancing of existing trade-related debt, and general trade finance purposes.
Joining as MLAs during general syndication are: Banque Libano-Francaise; Demir-Halk Bank (Nederland); GarantiBank International; Gulf International Bank; Mashreq Bank, and Wachovia Bank.
Co-arrangers are Oyak Anker Bank, Bank fur Arbeit und Wirtschaft und Osterreichische Postsparkasse Aktiengesellschaft and National Bank of Egypt.
Lead managers are Anadolubank Nederland; Banca UBAE; Intesa Sanpaolo; Bank of Beirut; Jordan International Bank; Habib Bank; Union de Banques Arabes et Francaises and Zurcher Kantonalbank. Commerzbank International acted as the agent bank.
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