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Finansbank secures 2-tranche syndicated loan

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Finansbank secures 2-tranche syndicated loan

Finansbank AS said Dec. 4 that it acquired Nov. 30 a syndicated loan in tranches of $182 million and €503.2 million.

The loan has a 367-day maturity and carries an all-in cost of the London Interbank Offered Rate plus 135 basis points and the Euro Interbank Offered Rate plus 125 basis points.

The Turkish lender said the loan will be used to fund its clients' trade finance activities, noting that 33 international banks participated in the syndication.