Bank of New York, HSH Nordbank, Natexis Banques Populaires, Rabobank International (facility and documentation), Standard Chartered Bank (bookrunner and info memo), Wachovia Bank, and WestLB AG London (bookrunner) as joint arrangers have signed a new US$75mn 364-day syndicated bullet term loan facility for GarantiBank International. The loan is to pre- finance export contracts.

Following a successful senior syndication the borrower decided not to undertake a wider syndication and increased the facility from its launch amount of US$60mn to US$75mn at signing. The margin is 60bp.

In senior syndication banks were invited to join as a co-arranger with a commitment of US$5mn with participation fees of 45bps. In addition to joint arrangers, American Express Gmbh, Emirates Bank International, Erste Bank, and WGZ-Bank joined as co-arrangers. Union Bank of California joined as a senior lead manager.