Joint arrangers ABN Amro, Alpha Bank, American Express Bank GmbH., Arab Investment Company, Bank of New York, Bank of Tokyo-Mitsubishi (bookrunner), Citibank, CoBank, Commerzbank, Dresdner Kleinwort Wasserstein, Gulf Bank, HVB Group (bookrunner), Mashreqbank, Natexis Banques Populaires, RZB, Standard Chartered, Sumitomo Mitsui Banking Corp Europe (facility agent), UFJ Bank (coordinating bank, bookrunner, documentation, signing), Wachovia Bank and WestLB London have closed a new US$300mn one-year syndicated term loan facility for Turkiye Bankasi (Isbank).

The proceeds will be used to pre-finance export contracts for Isbank’s corporate customers.

Isbank again enjoyed an oversubscription in syndication. and increased the amount from US$210mn to US$300mn with the participation of 47 leading banks. The facility pays a margin of 65bp per year.

Some 26 banks joined the joint arrangers in supporting the facility:

Co-arrangers: Erste Bank (Malta), Fortis Bank.

Lead managers: Arab Bank Bahrain, Arab Banking Corporation, Banco BPI Cayman, Bank of Kuwait & The Middle East, Bank of Nova Scotia, Bayerische Landesbank, UBAE Arab Italian Bank, Banque Misr.

Managers: Baden-Wurttembergische, Banca Intesa, Banca Monte dei Paschi di Siena, Banca Nazionale del Lavoro, Bank Hapoalim, Bank Leumi Le-Israel, Bank Muscat, Bank of Ireland, Bre Bank, Credit Suisse First Boston, KBC Bank, Landesbank Rheinland-Pfalz, Union de Banques Arabes et Franaises-UBAF, OKO Osuuspankkien Keskuspankki, Swedbank.