Turkiye Sinai Kalkinma Bankasi (TSKB) is raising a debut US$120mn through mandated lead arrangers Arab Banking Corporation, American Express Bank GmbH, BayernLB (documentation and facility agent), BHF-Bank, Citibank, Commerzbank, Dresdner Kleinwort Wasserstein (acting through Dresdner Bank Luxembourg), Erste Bank, Gulf International Bank, HVB Group (represented by members of HVB Group), RZB, Standard Bank London, Sumitomo Mitsui Banking Corporation Europe and WestLB London (coordinating arranger).
Given the extremely positive response in the early phase of the transaction TSKB has elected not to approach the general bank market.
The maturity of the loan is 364 days from the date of the first advance.
There is a bullet repayment.
The margin is Libor plus 50bp.
TSKB is 53.3% owned by Isbank Group with Akbank Group 9.65%, Vakifbank (8.37%) and being the other main shareholders. TSKB is the largest privately-owned development and investment bank in Turkey.