Garanti Leasing borrows syndication loan of EUR 200 million
The first tranche of the total EUR 200 million loan with an amount of EUR 100 million and 1-year term has accessed to the company’s accounts as of 30 November. The second tranche of 5-year term will be used on 10 December. This transaction is the syndication credit with the highest amount and longest term by a Turkish company up to the present.
The transaction, which has been settled in the desired level with regards to both term and price during the fluctuant episode in the world markets, has proven once again that Garanti Leasing and the Turkish economy are both dependable.
ABN Amro Bank was appointed as the regulator for this loan transaction, and banks were requested to participate with cash for the 1-year term first tranche of the loan, while participation to the second tranche was requested to be non-cash and external guaranty. The external guaranty to be obtained from banks in the second tranche shall be used as the guaranty for the 5-year term loan, which the company will borrow from the European Investment Bank.Company News