A US$200mn term loan facility secured by Demir-Halk Bank (Nederland) has been signed.

Arranged by American Express Bank, BayernLB Group (represented by Bayerische Landesbank and Landesbank Saar), Commerzbank, Dresdner Bank, Erste Bank (Malta), HSH Nordbank Luxembourg, Intesa Sanpaolo London, Mashreqbank, RZB, Turkiye Halk Bankasu, Wachovia Bank, WestLB London, and WGZ-Bank, the facility is a club deal financed by a total of 13 close international relationship banks from six different countries.

The senior general manager of the bank, Merdan Araz, declared in his statement that for the first time in its history DHB Bank offered a dual tranche option, and that the two-year tranche was very well received by relationship banks, resulting in a distribution of US$122.5mn for two years and US$77.5mn for one year.

The loan, which will be used to finance trade related transactions, carries a spread of 22.5bp per year over Libor for the one-year tranche and 32.5bp per year over Libor for the two-year tranche.

With a balance sheet size of US$2.9bn and founded in Rotterdam in 1992, Demir-Halk Bank (Nederland) is 70% owned by Halit C¸lu through his finance company HCBG Holding and 30% by Turkiye Halk Bankas. The bank is operating with a total of 13 offices in the Netherlands, Germany, Belgium and Turkey.