DenizBank secured a syndicated loan in the amount of USD 650 million in two tranches. One tranch is USD 300 million with a 1 year term at L + 0.45% and the second is USD 350 million with a 2 year term at L + 0.80%.
The facility was initiated with USD 500 million whereas the demand reached USD 760 million. The consequent syndicated loan amount was USD 650 million in line with the requirements of the bank.
The loan was co-arranged by 25 banks and the signing took place on October 25, 2005 in Istanbul.