Mandated lead arrangers have been mandated by Tekstil Bankasi of Turkey to arrange a US$100mn 364-day syndicated term loan facility which replaces the borrower’s 364-day US$75mn pre-export financing syndicated loan from June 2004.

Abu Dhabi Commercial Bank, American Express Bank GmbH, Arab Investment Company, Bank of New York (bookrunner), Commerzbank (bookrunner), Demir-Halk Bank (Nederland), Doha Bank, Finansbank (Holland), HSH Nordbank, HVB Group (bookrunner and documentation), Mashreqbank, National Bank of Egypt (UK), RZB, Standard Chartered (facility agent) and Wachovia Bank have been approached.

Arrangers have been offered takes of US$5mn at 80bp flat; co-arrangers US$4mn at 75bp flat; lead managers US$3mn at 70bp flat; managers US$2mn at 65bp flat; and participants US$1mn at 60 bps flat.

Proceeds of the facility will be used by the borrower to pre-finance export contracts.

Repayment will be bullet at maturity, with a margin of 60bp per year.