GarantiBank has renewed its annual syndicated borrowing facility, which this year amounts to US$250mn.

The facility will be used for global trade finance activities, has a one-year maturity and was self-arranged by the bank for the first time.

“Our new deal this year was aimed at our relationship banks rather than a general syndication. Therefore, we have decided to coordinate the deal ourselves,” a spokesperson for the bank tells GTR.

The facility drew in initial commitments of US$283.5mn, but was scaled back.

It replaces the US$127.5mn tranche of the former US$250mn one, which was signed last year in June.

The all-in yield to leading participants, committing US$30mn or more, was Libor plus 1.05% per year, while senior participants, committing between US$10mn and US$30mn, received Libor plus 1% per year. Participants with a stake below US$10mn obtained an all-in yield of Libor plus 0.95% per year.

19 lenders from 13 countries invested in the facility.  The largest lender group by region consisted of banks from the Middle East and Asia, representing 33% of the facility amount. Eurozone lenders, North American lenders and other EU lenders followed with 28%, 20% and 19%, respectively.

Wells Fargo was the documentation agent while Bayerische Landesbank took the facility agent role. The other leading participants were Standard Chartered and Abu Dhabi Commercial Bank.

Senior participants were:

  • Banca Transilvania,
  • Korea Development Bank,
  • Axis Bank, Citibank,
  • Raiffeisen Bank International,
  • The Export Import Bank of the Republic of China
  • The Shanghai Commercial and Savings Bank.


  • Rabobank,
  • Abanca Corporacion Bancaria,
  • Bank of America Merrill Lynch,
  • Bank of Montreal,
  • BNP Paribas,
  • ING Bank,
  • Misr Bank-Europe
  • UniCredit