Published: April 11, 2012
Turkish bank announces syndicated loan and mandates banks for bond.
Turkey’s Vakifbank has signed a one-year, dual-tranche syndicated loan to fund its foreign trade.
The bank has borrowed US$152mn and €586mn from a syndicate comprising 41 banks from 19 countries. The deal was coordinated by Wells Fargo with ING acting as a facility agent.
Vakifbank has also mandated Barclays, Goldman Sachs, JP Morgan and Standard Chartered Bank for a series of global fixed-income investor meetings over the coming week in preparation for a US dollar benchmark bond.