Turkey’s Anadolubank has mandated American Express Bank GmbH, Commerzbank, Deutsche Bank London, Finansbank (Holland), Standard Bank Plc, Standard Chartered, Unicredit Group (represented by Bayerische Hypo- und Vereinsbank and Bank Austria Creditanstalt), and Wachovia Bank as mandated lead arrangers to arrange a US$100mn syndicated term loan facility.

The facility, which was arranged on a best efforts basis, was launched at US$100mn into general syndication on September 5.

The Facility closed on September 25, generating a significant oversubscription of US$168.5mn which was scaled back to US$160mn.

As of June 30, Anadolubank had total assets of US$1.7bn. The bank has 60 branches and has a B+ long-term foreign currency rating from Fitch.

This is Anadolubank bank’s third syndicated deal, the proceeds will be used for pre-export finance.

The facility will have a maturity date 364 days after drawdown and carries a margin of 35bp over Libor.