Emirates Bank wraps up USD 250 Million Syndicated Loan for Sekerbank T.A.S. in Turkey

Sekerbank T.A.S ('Sekerbank') successfully signed a USD 250 million (US Dollars Two Hundred Fifty Million) Dual Tranche, Syndicated Term Loan Facility. The facility comprises of a (USD 169.5 million) 364 day Tranche and a (USD 80.5 million) 2 year Tranche. Launched at an initial amount of USD 165 Million, the facility achieved an oversubscription of 1.5 times due to strong response from investors. Borrowings under the Facility will be used by Sekerbank for its trade financing activities.

American Express Bank Ltd., Arab Banking Corporation (B.S.C.), The Bank of New York, Commerzbank Aktiengesellschaft, Doha Bank, Emirates Bank International PJSC, GarantiBank International N.V., Raiffeisen Zentralbank Osterreich Aktiengesellschaft, SOCIETE GENERALE Corporate and Investment Banking, UniCredit Group (represented by Bayerische Hypo- und Vereinsbank AG and Bank Austria Creditanstalt AG) and Wachovia Bank, N.A. acted as the Mandated Lead Arrangers for the facility, with Emirates Bank and Wachovia Bank, N.A acting as the coordinating banks. The Facility was bookrun by Commerzbank Aktiengesellschaft, Emirates Bank International PJSC, Raiffeisen Zentralbank Osterreich Aktiengesellschaft and Wachovia Bank N.A.

During General Syndication, Bank of Montreal, Commercial Bank of Kuwait, The Bank of Nova Scotia and Standard Bank Plc joined the Facility as Lead Arrangers, Arab African International Bank, Deutsche Bank AG, London Branch and Intesa SanPaolo S.p.A, London Branch joined as Arrangers and Banca UBAE S.p.A, BRE Bank SA, Caxia Geral de Depositos S.A, EMRO Finance Ireland Limited (Banking Group: Banca popolare dell' Emillia Romagna), KBC Bank NV, Dublin Branch, National Bank of Greece SA, London Branch and Zurcher Kantonalbank joined as Co-Arrangers.

Mr Abdul Wahid Al Fahim, General Manager Emirates Bank said 'The prominent role played by Emirates Bank in the success of this important syndicated borrowing for Sekerbank is a testament to our proven global debt originating and syndicating capabilities. This is the first time that Emirates Bank has lead arranged a syndicated debt transaction for a Turkish bank and we are proud of the success achieved. Turkey represents a very attractive market for us and we will continue to work closely with our valued Turkish clients to explore mutually beneficial business opportunities'.

Speaking at the signing ceremony in Istanbul, Mr Mohammad Kamran Wajid, Head Financial Institutions Division Emirates Bank commented 'With a diverse credit appetite, excellent structuring and distribution capabilities and a client centric approach, Emirates Bank has emerged as the leading institutional debt arranger from the Middle East. With the successful conclusion of this strategic transaction for Sekerbank, we have established our footprint in the Turkish market, which offers huge potential from Debt / Capital Market perspective.'