Borrowings under the Facility will be used by Tekstilbank for its trade financing activities.
A total of 34 banks from across the globe joined the Facility with 50% of the total participation coming from Europe, 30% coming from the Middle East and 20% coming from the Americas.
List of the banks which participated in the facility are as follows: American Express Bank GmbH, Arab Bank plc, BMI Bank B.S.C(C), Banque Misr, BayernLB, Commercial International Bank (Egypt) S.A.E, Commerzbank Aktiengesellschaft, Emirates NBD PJSC, Erste Bank, Gulf International Bank B.S.C., Hypo Alpe-Adria-Bank International AG, JPMorgan Chase Bank, N.A., Mashreq PSC, The Governor and Company of the Bank of Ireland, Wachovia Bank, National Association, Dexia Bank, National Bank of Greece S.A. London Branch, AKA Ausfuhrkredit Gesellschaft mbH, CITI, Landesbank Baden-Württemberg, London Branch, OYAK ANKER Bank GmbH, Standard Chartered Bank, The Bank of Nova Scotia, National City Bank, Ziraat Bank International AG, Banca Monte dei Paschi di Siena SpA, London Branch, Banca UBAE S.p.A., Bank of Montreal, EMRO Finance Ireland Limited (Banca Popolare dell'Emilia Romagna Banking Group), Habib Bank AG Zurich, Dubai, UAE, Intesa Sanpaolo SpA, London Branch, KBC Bank NV Dublin Branch, Rabobank International, and Zürcher Kantonalbank.
Speaking at the signing ceremony in Istanbul, Mr. Abdul Wahed Al Fahim, General Manager, Wholesale Banking - Emirates NBD commented 'Conclusion of this highly successful and strategic transaction for Tekstilbank represents yet another example of Emirates NBD's continued commitment towards providing its debt capital market arrangement capabilities to quality institutions across the globe. Having established a leadership position as No. 1 arranger of debt capital market transactions from the Middle East, Emirates NBD remains committed to further expand and demonstrates these capabilities globally. Being located in close proximity and having strong ties with both Europe and the Middle East, Turkey represents a very attractive market for us and we will continue to explore attractive business and strategic opportunities in the country.'
Tekstil Bankasi A.S. raises $300m equivalent multi-currency syndicated term loan
Tekstil Bankasi A.S. (Tekstilbank) has successfully raised a $300m equivalent multi-currency syndicated term loan facility (the Facility).
- United Arab Emirates: Tuesday, August 05 - 2008 at 14:13
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About Tekstil Bankasi A.S.:Originally founded in 1986, Tekstilbank became a part of the GSD Group in 1992 when GSD Foreign Trade purchased a 30% stake in the bank. This share was transferred to its parent company, GSD Holding in 1996. In 2002, GSD Holding acquired the stake of Akin Group, the original founder in Tekstilbank and became the major shareholder with a 74.8% share. Since 1990, Tekstilbank shares have been traded on the Istanbul Stock Exchange (ISE). At the end of 2007, GSD Holding held a 75.5% share in Tekstilbank while the remaining 24.5% of the bank's shares were on free float.
The core business areas of Tekstilbank are corporate, commercial banking as well as consumer banking supported and complemented by its expertise in treasury transactions, domestic / international trade finance products and services.
The Group's extensive banking network consists of 60 branches across Turkey and one financial services branch in Berlin, Germany. As per limited review figures, the Bank's total assets and equity exceeded TL3.21bn (approximately $2.53bn) and TL381.2m (approximately $300m) respectively as at 31 March 2008.
For further information, please do not hesitate to contact:
Mohammad Kamran Wajid
Global Head - Financial Institutions
Emirates NBD
Tel: + 9714 209 2237 / +97150 6574107
Posted by Medilyn Manibo, Assistant News EditorTuesday, August 05 - 2008 at 14:13 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.
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