Garanti signed US$700 Million Club Term Loan Facility
Garanti signed US$700 Million Club Term Loan Facility
We are pleased to announce that the above transaction was signed in Istanbul on Monday 5th December 2005. The Facility has a maturity of 1 year with a lenders’ extension option of 1 further year. The facility was initially launched with $600 Million but the high demand from key relationship banks of the Borrower resulted in a total commitment that reached almost US$950 Million before scaleback. The deal has been closed with an all-in cost of 57,5 bps which is the lowest pricing ever accomplished by a Turkish bank.