Mandated lead arrangers have been chosen by Turkey’s Finansbank to arrange a US$500mn 364-day syndicated term loan facility.

Those mandated are: ABN Amro, Alpha Bank, American Express Bank GmbH, Bank of New York, Bank of Tokyo-Mitsubishi, BayernLB, Citigroup, Commerzbank, Deutsche Bank London, Dresdner Kleinwort Wasserstein, Fortis Bank, Groupe Banque Populaire, Gulf International Bank, HSH Nordbank, HVB Group, ING Wholesale Banking, Mashreq Bank, Merrill Lynch International, Mizuho Corporate Bank, National Bank of Greece, RZB, SG Corporate and Investment Banking, Standard Chartered, UFJ Bank, Wachovia Bank, and WestLB London.

This facility will replace a US$415mn term loan facility for the Turkish bank from October 22, 2004.
The arrangers are approaching a select group of banks to participate in the facility at one of the following levels: co-arrangers with commitments of US$15mn, with fees of 30bp flat; lead managers with US$10mn at 25bp flat; managers with US$5mn at 22.5bp flat; and participants with US$2.5mn at 20bp flat.

Proceeds of the loan will be used by the borrower to pre-finance export contracts.

Repayment will be bullet at maturity.

The margin is 50bp per year.