Turkey’s Akbank has launched a US$300mn 364-day term loan into general syndication. The facility refinances part of a US$450mn one-year term loan signed in September 2002. That had a margin of 75bp over Libor, while the latest facility has a margin of 65bp.
Mandated lead arrangers 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, DrKW, GIB, HSH Nordbank, Natexis Banques Populaires (bookrunner), Saudi National Commercial Bank, Standard Chartered (bookrunner), SMBC, UFJ, Wachovia Bank and WestLB (co-ordinating arranger).
There are fees of 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.