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Tükiye Garanti Bankasi’s €400mn term loan facility has been signed oversubscribed and increased from €240mn. The margin of is 75bp over Libor.

Mandated lead arrangers are Alpha Bank, American Express, Bank of New York, Bank of Tokyo-Mitsubishi (joint bookrunner), Commercial Bank of Greece, Commerzbank Securities, Deutsche Bank, Group Banque Populaire, HSH, HVB Group, ING, Mizuho Corporate Bank, Standard Chartered, SMBCE (joint bookrunner), UFJ and Wachovia Bank.
Lead arranger is Dresdner Kleinwort Wasserstein.

Co-arrangers are Bank of Nova Scotia, Banque Misr, Commercial International Bank, Erste Bank, Saudi National Commercial Bank and Union Bank of Norway .

Lead managers are Arab Banking Corporation, Baden-W ürttembergische Bank, Banca Monte dei Paschi di Siena, Citibank, Fortis Bank, KBC, Mashreqbank, National City Bank, Österreichische Volksbanken, Raiffeisen Zentralbank Österreich  and WGZ Bank.

Managers are Banca Nazionale del Lavoro, Bank Hapoalim, Chang Hwa Commercial Bank, Nordea Bank and UBAE Arab Italian Bank.

Participants are Anglo Irish Bank, Banca Di Roma, Banco Esp í­rito Santo, Bank of Ireland, Bre Bank, Demir-Halk Bank, Finnish Fund for Industrial Cooperation, Swedbank and Toronto-Dominion Bank.

This is the first syndicated facility for a Turkish borrower this year after the war in Iraq. In total 48 international banks, representing 23 countries, have joined the facility.
Garanti will use the loan to fund pre-finance export contracts for its corporate customers