Banks have closed a US$200mn one-year syndicated term loan facility for Demir Halk Bank (Nederland). The facility was initially launched with the amount of US$180mn. The final amount of the facility was increased to US$200mn and banks were scaled back at the same time.

Mandated lead arrangers are ABN Amro (bookrunner), American Express Bank GmbH, BayernLB, Commerzbank (bookrunner), Dresdner Bank, Erste Bank, HSH Nordbank, RZB, Turkiye Halk Bankasi, Wachovia Bank, WGZ-Bank and WestLB AG, London (bookrunner, documentation and facility agent).

Banks joining the deal are: Mashreqbank as lead arranger; and Banca Intesa Caixa Geral de Depositos, KBC Bank, LB Saar and Sampo Bank as co-arrangers.

The facility has a one-year tenor, is repayable at maturity in bullet and carries a margin of 25bp per year.

The purpose of the facility will be used to finance the borrower’s trade-related transactions.