Turkish Garanti Bank has successfully renewed a US$1.3bn-equivalent syndicated loan facility to be used for general trade financing.

The facility comprises a US$626mn tranche and a €616.5mn tranche, has a loan commitment of 367 days and attracted commitments from 34 banks across 15 countries.

The all-in pricing of the loan was Libor+1.1% per year for the US dollar tranche and Euribor+1% per year for the euros.

National Bank of Abu Dhabi and Standard Chartered Bank were co-ordinators of the transaction while Mizuho was the facility agent.