Mandated arranger HSBC has signed banks into an oversubscribed US$60mn Islamic murabaha facility for Turkey’s Tav (Tepe Akfen Vie). Tav is the consortium building and operating the international terminal at Istanbul’s Ataturk Airport. Proceeds of the loan are for expanding terminal buildings and facilities.
HSBC has taken on US$6mn itself, while Finans Kurumu, Kuwait Finance House and Melli Bank come in as co-arrangers. Co-managers are Arab Investment Company, British Arab Commercial Bank, Emirates Bank International, Faisal Islamic Bank of Egypt and National Bank of Pakistan. Esbank is a participant.