Turkey’s GarantiBank gets 367-day $229.5 million, €518.8 million loan

By Wendy Van Sickle

Columbus, Ohio, Nov. 22 – Turkiye Garanti Bankasi AS signed a 367-day syndicated loan agreement in tranches of $229.5 million and €518.8 million, according to a regulatory announcement.

Interest is Libor plus 225 basis points on the dollar tranche and Euribor plus 210 bps on the euro tranche.

Commitments were received from 31 banks in 16 countries, and the book size was over $900 million, the bank reported.

The loan will be used for general trade finance purposes.

GarantiBank is a lender based in Istanbul.

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