Mandated lead arrangers ABN Amro, Alpha Bank, Bank of Tokyo-Mitsubishi UFJ, Calyon, Citibank, Fortis Bank, Natexis Banques Populaires, RZB, Société Générale, WestLB AG, London have closed syndication of a €500mn three-year term loan and revolving credit facility for Turkey’s Akbank.

Akbank is a member of Sabanci Holding, the holding company of the Sabanci Group, one of the largest industrial and financial conglomerates in Turkey.

Banca Carige is a co-arranger. Development Bank of Singapore is a senior lead manager.

Lead managers are Chang Hwa Commercial Bank, Dexia, Doha Bank, Export Development Bank of Egypt, National City Bank, Qatar National Bank and Züricher Kantonalbank.

Chiao Tung Bank and Caixa Geral de Depositos are managers. Akbank is acting through its Malta branch.

The facility is split into two equal tranches. Proceeds will be used for general corporate purposes.

The margin is 0.55% per year.