September 24, 2013 / 10:14 AM / 7 years ago

Albaraka Turk secures murabaha loan

ISTANBUL, Sept 24 (Reuters) - Bahraini lender Al Baraka Bank’s Turkish unit Albaraka Turk has secured an Islamic murabaha syndicated loan of $196 million and 175.5 million euros ($237 million), it said on Tuesday.

The loan, in one- and two-year tranches, had a cost of LIBOR/EURIBOR +1 percent and LIBOR/EURIBOR +1.35 percent respectively. ($1 = 0.7412 euros) (Writing by Daren Butler)

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