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Albaraka Türk arranges $250m finance facility

Albaraka Türk, the Turkish unit of Bahrain-based Albaraka Banking Group (ABG) has mandated several major banks to arrange a $250m dual-currency syndicated finance facility. The facility will be used to expand the unit's financing activities in Turkey. Banks mandated include ABC Islamic Bank, Al Hilal Bank, Bank Islam Brunei Darussalam Berhad, Emirates NBD Capital, Noor Islamic Bank and Standard Chartered Bank who are jointly initial mandated lead arrangers and the bookrunners.