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Türkiye Vakiflar Bankasi has mandated American Express Bank GmbH, Arab Investment Company, Bank of New York, Bank of Nova Scotia, BayernLB (facility agent), Citibank, CoBank, ACB, Commerzbank, Dresdner Kleinwort Wasserstein, Erste Bank, HVB (bookrunner), JPMorgan, Mashreqbank, Natexis Banques Populaires, Standard Bank London (documentation agent, publicity, signing), Standard Chartered, Wachovia and WestLB AG London (bookrunner and info memo) as mandated lead arrangers to arrange a new US$275mn one-year syndicated term loan facility on its behalf.

This is about to be launched into general syndication.

The tenor is 364 days, with a bullet repayment at 65bp per year.

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