TSKB leads a club deal of USD 105 million

Turkey’s first private investment and development bank TSKB (Industrial Development Bank of Turkey) signed a club deal on April 28, 2008. TSKB secured a deal of USD 105 million with a base point interest rate of Libor+55 from the international markets. On April 24, the Bank gave mandate to 7 MLAs (Mandated Lead Arrangers) to be coordinated by Dresdner Bank AG for the organization of the deal.

The MLAs in the international consortium created for the club deal are Dresdner Bank AG, American Express Bank Ltd., Bayerische Hypo- und Vereinsbank AG, Citibank N.A., Commerzbank Aktiengesellschaft, Natixis and The Bank of Nova Scotia.

TSKB stepped in the international markets for the first time in 2005 to create short-term alternative resources.