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Turkiye Garanti Bankasi has launched a US$330mn loan into syndication.

Mandated lead arrangers are ABN Amro, Alpha Bank, Amex, Arab Investment Company, Bank of New York, Bank of Nova Scotia, Bank of Tokyo-Mitsubishi (bookrunner), BayernLB (bookrunner), Burgan Bank, Citigroup, Deutsche Bank, DrKW, Erste Bank, Gulf Bank, HVB Group, JPMorgan, Natexis Banques Populaires, Sanpaolo IMI, Standard Chartered (bookrunner), SMBC (bookrunner), UFJ (bookrunner) and Wachovia.
The margin is 65bp over Libor. Co-arrangers will receive a 90bp participation fee for US$10mn, lead managers 80bp for US$5mn and managers 75bp for US$3mn.

The deal refinances a US$325mn one-year term loan, which was increased from US$225mn and signed in October 2002. That paid a margin of Libor plus 75bp.