Türk Ekonomi Bankasi (TEB) has closed a multi-tranche, dual-currency term loan syndicated facility worth approximately US$619mn combined.

A total of 33 banks participated in the facility. Standard Chartered acted as the co-ordinating bank and Wells Fargo as the facility agent. BNP Paribas, HSBC, Standard Chartered, National Bank of Abu Dhabi, Wells Fargo and Commerzbank were involved as mandated lead arrangers and bookrunners. Dentons provided legal counsel to the lenders.

The multi-tranche facility includes one €15mn-tranche, with a 364-day tenor and a margin of 0.25%, and two tranches of US$175mn and €370mn, both with a 367-day tenor and 0.35% margin. The financing will replace TEB’s dual-tranche, dual-currency term loan facility maturing on August 26, 2015, and it has increased by 15% compared to the previous year.

The financing will be used for export trade finance purposes.

The full list of participating banks is as follows:

Mandated lead arranger and bookrunner, facility agent

  • Wells Fargo

Mandated lead arranger and bookrunner

  • BNP Paribas
  • HSBC
  • Standard Chartered Bank
  • Commerzbank
  • National Bank of Abu Dhabi

Lead arranger

  • The Bank of New York Mellon
  • Mizuho Bank


  • Bayerische Landesbank
  • Raiffeisen Bank International
  • Raiffeisenlandesbank Oberösterreich Aktiengesellschaft
  • KBC Bank
  • The Bank of Tokyo-Mitsubishi UFJ

Lead manager

  • Deutsche Bank
  • Citibank
  • Coöperatieve Centrale Raiffeisen-Boerenleenbank (trading as Rabobank International)
  • Zurcher Kantonalbank
  • CoBank
  • Bank of Montreal
  • Erste Group Bank
  • Intesa Sanpaolo
  • Bank of America Merrill Lynch
  • Doha Bank
  • National Bank of Canada
  • Credit Suisse
  • Landesbank Baden-Wüerttemberg
  • Allgemeine Sparkasse Oberösterreich Bankaktiengesellschaft
  • Bankinter
  • Banco Popular Español
  • The Governor and Company of the Bank of Ireland
  • UBI Banca International
  • Banco de Credito e Inversiones
  • Bank Al Habib