Mandated lead arrangers Bank of Tokyo Mitsubishi, BayernLB, HSH Nordbank and WestLB have signed a €115mn credit facility for Sabanci Bank plc, the London-based subsidiary of Turkey’s Sabanci group of companies.
The transaction has been well received with an increase from the launch amount of €75mn.
The facility, which will be equally split between a three-year term loan and a three-year revolving credit facility, will be used to refinance the existing US$100mn floating rate note maturing in May 2005 and for general corporate purposes.
A total of 26 banks from 14 different countries participated in the transaction.
Arrangers are Natexis Banques Populaires and WGZ Bank. Co-arrangers are Alpha Bank, Bawag, Erste Bank, Korean Development Bank, Bank of Taiwan, Landesbank Rheinland Pfalz, BW Bank and RZB. Lead managers are Chang Hwa Commercial Bank, National Bank of Egypt, Bank Leumi UK, MKB, State Bank of India and Westfalenbank. Managers are Anglo Irish Bank, Banca Monte dei Paschi dei Siena, Melli Bank plc, Landesbank Saar. Banca Nazionale del Lavoro and Banca Intesa.