Turkey’s Akbank has signed a US$425mn one-year facility that was oversubscribed and increased from US$300mn. The margin pays 65bp over Libor and the loan refinances part of a US$450mn one-year term loan signed last September.

That had a margin of 75bp.

Mandated lead arrangers for the latest loan are ABN Amro, Alpha Bank, American Express, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi, Banque Saudi Fransi, Citigroup, Commerzbank (bookrunner), Crédit Agricole Indosuez, Deutsche Bank, Dresdner Kleinwort Wasserstein, GIB, HSH Nordbank, Natexis Banques Populaires (bookrunner), Saudi National Commercial Bank, Standard Chartered (bookrunner), SMBC, UFJ, Wachovia Bank and WestLB (co-ordinating arranger).

Fees are 90bp for US$10mn for co-arrangers, 85bp for US$7.5mn for senior lead managers, 80bp for US$5mn for lead managers and 75bp for US$2.5mn for managers.

Co-arrangers are Banco BPI, Commercial International Bank, Fortis Bank and National City Bank. Senior lead managers are Emporiki Bank, BW Bank, National Bank of Greece, RZB, Saudi Hollandi Bank and Union Bank of Norway.

Lead managers are Arab Banking Corporation, Bank Muscat, Bank of Ireland, Bank of Kuwait, Commercial Bank of Qatar, DZ Bank, Israel Discount Bank of New York and UBAE.

Managers are Arab Bank, Banca di Roma, Banca Nazionale del Lavoro, Banco Popular Espa íol, Bank Hapoalim, BAWAG Bank, Indover Bank, Kuwait Real Estate Bank, Landesbank Rheinland-Pfalz and Sanpaolo IMI.

Participants are Abu Dhabi Commercial Bank, Pinebank and Tunis International Bank.