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Bank of Tokyo Mitsubishi (bookrunner), BayernLB (facility and documentation agent), HSH Nordbank (signing and publicity), and WestLB (bookrunner and info memo) as mandated lead arrangers have been mandated to arrange a €75mn syndicated credit facility on behalf of Sabanci Bank plc. 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. The facility has been fully underwritten by the mandated lead arrangers.

Before the launch of general syndication Natexis Banque Popularies joined the facility as an arranger.

General syndication has been launched. Banks invited to join in general syndication have been asked to commit at one of the following levels: co-arrangers with €
5mn at 40bp flat; lead managers with €
3mn at 35bp flat; managers with €
2mn at 32.5bp flat.

The margin is 50bp per year.

Sabanci Bank plc is a London-based bank, authorised and supervised in the UK by the Financial Services Authority and rated Baa1 / P-2 by Moodys. As at December 31, 2004 Sabanci had total assets of £631mn and total shareholders “funds of £114mn.

The main activities undertaken by Sabanci Bank plc are commercial lending, trade finance, retail/personal banking and wholesale treasury operations. Sabanci Bank plc is 100% owned by members of the Sabanci group companies, which together constitute one of the largest financial, commercial and industrial conglomerates in Turkey.