Syndication of a 364-day term loan for Turkey’s DenizBank has been closed. Joint arrangers are: Alpha Bank, American Express GmbH, Bank of New York, Bank of Tokyo-Mitsubishi, CoBank, Commerzbank, Demir-Halk Bank (Nederland), HSH Nordbank, HVB Group, Mashreqbank, RZB, Standard Bank London, Standard Chartered, UFJ Bank and Wachovia Bank.
Following an oversubscription the final total facility amount was increased from the launch amount of US$225mn to US$325mn. A total of 35 banks committed to the facility along with the 15 joint arrangers. The margin is 60bp.
Up-front fees are: co-arrangers 85bp; lead managers 80bp; managers 75bp; participants 70bp.
Lead managers are: BayernLB; JPMorgan. Bank of Nova Scotia, ING, Landesbank Baden Wttemberg, London, Natexis Banques Populaires and National City Bank are managers. Participants are: Arab Bank AG, Frankfurt; Baden Wttembergische Bank; Banca di Roma; BankMuscat; Bank of Ireland; Banque Cantonale de Genve; BRE Bank; Canadian Imperial Bank of Commerce; Credit Suisse; Doha Bank; Fortis Bank; Isbank GmBH; KBC Bank Dublin; LRP Landesbank Rheinland-Pfalz; Misr International Bank; Indover bank; National Bank of Egypt (UK); Nordea; OKO Bank; Pinebank; Rabobank International; Sampo Bank; San Paolo IMI; Swedbank; Unicredito Italiano London; Union Bank of California; and Union de Banques Arabes et Francaises – UBAF.
Bank of New York and Bayerische Hypo- und Vereinsbank (member of HVB Group) were acting as bookrunners. Standard Bank London is documentation agent. Bank of New York has the role of facility agent.