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Citibank London, Gulf International Bank and WestLB London as mandated lead arrangers have been chosen to arrange a US$200mn dual tranche syndicated term loan facility for Finansbank. The loan is to pre- finance export contracts and for general corporate purposes.

Finansbank (Rated B3 by Moody’s and B+ [positive outlook] by Fitch) is the fifth largest private bank in Turkey (by total assets), providing a full range of financial services. Finansbank’s main shareholder is the Fiba Group which is primarily involved in financial services and retail businesses in Turkey.

Repayment of the two tranches are as follows: tranche A – 364 days (50bp); tranche B – 2 years (90bp).

All three banks are bookrunners, while Gulf is facility agent.

WestLB is documentation, publicity and signing agent. Citibank is handling the info memo.