Emirates NBD and Wachovia has been appointed as the Coordinating Banks for the facility. The facility was launched into general syndication on June 20, 2008, with banks from across the globe invited to participate in the Facility.
Mohammad Kamran Wajid, Head of Financial Institutions Division, ENBD, said " This is another in a series of several high profile transactions originated and arranged by ENBD. Our established credentials in the Debt Capital Market place ENBD in a unique position for borrowers looking for transactions befitting global standards and also targeting new investor base."
Browse
related articles
Emirates NBD co-arranges $100m equivalent dual-currency syndicated term loan facility for Sekerbank
- United Arab Emirates: Monday, June 23 - 2008 at 11:50
- PRESS RELEASE
Related content
Sekerbank T.A.S. (Sekerbank) has mandated Commerzbank Aktiengesellschaft (Commerzbank AG), Emirates NBD PJSC (Emirates NBD), Raiffeisen Zentralbank Osterreich Aktiengesellschaft (RZB) and Wachovia Bank, N.A. (Wachovia) (together the 'Initial Mandated Lead Arrangers' and the 'Bookrunners') to arrange a $100m equivalent dual-currency syndicated term loan facility (the Facility) on its behalf.
Article Options
Log in to request more information from Emirates NBD
Posted by Medilyn Manibo, Assistant News EditorMonday, June 23 - 2008 at 11:50 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / Emap Limited.
Notes and Media Contacts »
About Sekerbank T.A.S.
Sekerbank T.A.S. was established in 1953 as the "Sugar Beet Cooperative Bank" in Eskisehir, Turkey. The Bank commenced its activities by pooling the modest savings of the sugar beet producers who belonged to the cooperatives to support the financial needs of the sugar beet producers and the sugar industry. In 1956, the Bank relocated its headquarters to Ankara and changed its name to Sekerbank T.A.S. In 2004, the Bank again relocated its headquarters to Istanbul. Sekerbank T.A.S. became a full service bank in early 1970s.
The Bank started partnership discussions with foreign investors during 2005 and 2006. In June 2006, Sekerbank Pension Fund signed a Partnership Agreement with Bank Turan Alem Group of Kazakhstan (BTA Group) to sell 33.98% of shares to the latter and successfully concluded the partnership process in March 2007. The current shareholding structure of the bank is as follows: 32.04% publicly traded on the Istanbul Stock Exchange, 33.98% BTA Group and 33.98% Sekerbank Pension Fund of the Employees.
The group's extensive banking network consists of 250 branches across Turkey. As per limited review figures, the Bank's total assets and equity exceeded TRY7.09bn (approximately $5.45bn) and TRY900.30m (approximately $692.30m) respectively as at 31 March 2008.
On 19th December 2007, Fitch Ratings raised its long-term IDR Foreign Currency on Sekerbank T.A.S. to B from B- and affirmed the short-term counterparty credit rating at B, with a stable outlook. Sekerbank is also rated by Capital Intelligence (BB- / B) with a stable outlook.
Emirates NBD Press Contact:
Mr Mohammad Kamran Wajid
Ph: +9714 2092237
Sekerbank T.A.S. was established in 1953 as the "Sugar Beet Cooperative Bank" in Eskisehir, Turkey. The Bank commenced its activities by pooling the modest savings of the sugar beet producers who belonged to the cooperatives to support the financial needs of the sugar beet producers and the sugar industry. In 1956, the Bank relocated its headquarters to Ankara and changed its name to Sekerbank T.A.S. In 2004, the Bank again relocated its headquarters to Istanbul. Sekerbank T.A.S. became a full service bank in early 1970s.
The Bank started partnership discussions with foreign investors during 2005 and 2006. In June 2006, Sekerbank Pension Fund signed a Partnership Agreement with Bank Turan Alem Group of Kazakhstan (BTA Group) to sell 33.98% of shares to the latter and successfully concluded the partnership process in March 2007. The current shareholding structure of the bank is as follows: 32.04% publicly traded on the Istanbul Stock Exchange, 33.98% BTA Group and 33.98% Sekerbank Pension Fund of the Employees.
The group's extensive banking network consists of 250 branches across Turkey. As per limited review figures, the Bank's total assets and equity exceeded TRY7.09bn (approximately $5.45bn) and TRY900.30m (approximately $692.30m) respectively as at 31 March 2008.
On 19th December 2007, Fitch Ratings raised its long-term IDR Foreign Currency on Sekerbank T.A.S. to B from B- and affirmed the short-term counterparty credit rating at B, with a stable outlook. Sekerbank is also rated by Capital Intelligence (BB- / B) with a stable outlook.
Emirates NBD Press Contact:
Mr Mohammad Kamran Wajid
Ph: +9714 2092237
Disclaimer »
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / Emap Limited. AME Info FZ LLC / Emap Limited is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.
For details about submitting your stories, please read the guide - all content published is subject to our terms and conditions
