Garanti raises US$1bn

Garanti raises US$1bn

Published: November 30, 2011

Turkish bank secures syndicated loan from 30 lenders.

Turkiye Garanti Bankasi has signed a US$1bn dual-tranche syndicated loan.

The Turkish bank raised the funding in tranches worth US$233mn and €576mn, secured from 30 banks operating in 16 countries.

The loan will be used for trade finance purposes. The loan tranches are priced at Libor+1% and Euribor+1% respectively.