Mandated lead arrangers ABN Amro (bookrunner), Alpha Bank, Bank of Tokyo-Mitsubishi UFJ (bookrunner), Calyon (bookrunner), Citibank, Fortis Bank, National Bank of Greece, RZB, Société Générale (bookrunner), Wachovia Bank and WestLB London (facility and documentation agent) have successfully closed syndication of a dual-tranche US$500mn three-year term loan and revolving credit facility for Turkey’s Akbank.
There was an oversubscription during syndication and the loan will be used for general corporate purposes.
Mizuho Corporate Bank was a lead arranger. Arrangers were: BankMuscat; Burgan Bank; DBS Bank; and Samba Financial Group.
Commercial Bank of Qatar; EDC; First Gulf Bank; and National City Bank were co-arrangers.
Lead managers were: British Arab Commercial Bank; Bank Hapoalim; Banque Misr; Banque Marocaine du Commerce Exterieur – International; Banca Nazionale del Lavoro; Doha Bank; Emro Finance Ireland; National Bank of Egypt; Raiffeisenlandesbank Obere&oouml;sterreich; Sampo Bank; SanPaolo IMI; UBAE Arab Italian Bank; Banca Lombarda International; and Banca Monte dei Paschi di Siena.
The margin is 0.60% per year.
Lead arrangers were offered tickets of US$20mn at 70bp flat; arrangers were offered US$15mn at 60bp flat; co-arrangers US$10mn at 52.5bp flat; lead managers US$5mn at 45bp flat.