Mandated lead arrangers have closed a one-year US$400mn pre-export finance club term loan for Türkiye İş Bankasi bank.The banks are: ABN Amro, Alpha Bank, American Express, Arab Bank, Banca Monte dei Paschi di Siena Frankfurt, Bank of New York, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi (signing), Burgan Bank Kuwait, Calyon, Citibank, Commerzbank, DBS Bank, Deutsche Bank London, Dresdner Bank, Erste Bank, Fortis Bank, HSBC Bank, HSH Nordbank, Mizuho Corporate Bank, Natexis Banques Populaires, RZB, SG, Standard Bank, Standard Chartered, Sumitomo Mitsui Banking Corporation Europe (facility agent), UFJ Bank, Wachovia Bank and WestLB London (documentation).

Repayment is bullet at maturity. The margin is 30 basis points per year. Fees are 27.5bp flat.