November 24, 2017 / 6:42 AM / 21 days ago

Turkey's Garanti Bank signs three-tranche syndicated loan deal worth some $1.35 bln

ISTANBUL, Nov 24 (Reuters) - Turkey’s Garanti Bank said on Friday it had signed a syndicated loan deal in two tranches of $405 million and 648.5 million euros ($769 million) with a 367-day maturity, as well as a third tranche of $180 million with a maturity of two years and one day.

In a statement to the Istanbul stock exchange, the bank said the loan, signed on Wednesday, was secured with the participation of 38 banks in 18 countries and would be used to meet general institutional needs. The three tranches respectively have a total cost of Libor+ 1.35 percent, Euribor+ 1.25 percent and Libor+ 2.2 percent. ($1 = 0.8437 euros) (Reporting by Ebru Tuncay; Writing by Daren Butler; Editing by Ali Kucukgocmen)

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