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Turk Ex-Im Bank has mandated ABN Amro, BayernLB, Bank of Tokyo-Mitsubishi, Standard Bank London and WestLB to raise a US$150mn one-year loan. The facility may, at the discretion of the lenders, be extended for a further period of 364 days from the initial maturity date. The repayment is bullet.

The mandated arrangers have fully underwritten the amount and have approached banks to join them before general syndication.

The Turkish bank last borrowed in July with a US$100mn facility fully underwritten by mandated lead arrangers ABN Amro, Bank of Tokyo-Mitsubishi and WestLB – the first underwritten deal since before the 2001 financial crisis. The margin was 130bp over Libor.