Alpha Bank AE, American Express Bank GmbH, Bank of Tokyo-Mitsubishi, HVB Group, Standard Chartered, Sumitomo Mitsui Banking Corporation Europe Ltd, Wachovia Bank, National Association and WestLB (joint arrangers) have been mandated by Kocbank AS to arrange a new US$125mn one-year syndicated term loan facility. This represents a refinancing of the Turkish bank’s US$200mn 364-day pre-export finance facility signed in April, 2002 and repaid earlier this year.

The joint arrangers are preparing to approach banks in general syndication and further details will be released following the launch into the market.

The margin for the bullet loan is 75bp over Libor.

Co-ordinating arranger: WestLB AG

Joint bookrunners: Bank of Tokyo-Mitsubishi, Ltd,       Standard Chartered Bank, WestLB

Facility agent:    Sumitomo Mitsui Banking Corporation Europe Ltd

Documentation agent:    WestLB AG

Information memorandum: Standard Chartered Bank