Turk Ekonomi Gets Syndicated Loan of $100 Million, 190 Million Euros

Turk Ekonomi Bankasi AS, the Turkish bank owned by BNP Paribas SA, said it got a syndicated loan in two parts of $100 million and 190 million euros.

The one-year loan was signed today and carries an interest rate of 1.3 percentage points above benchmarks, TEB, as the bank is known, told the Istanbul Stock Exchange today.

The loan will be used for foreign trade financing, TEB said in the statement. TEB rose 3 kurus, or 1.3 percent, to 2.29 liras on the main ISE National 100 index at 5:30 p.m., when trading closed.

To contact the reporter on this story: Seda Sezer in Istanbul at ssezer2@bloomberg.net

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