Sekerbank Gets $25 Million, 55 Million Euros Syndicated Loan

Sekerbank TAS (SKBNK), a Turkish bank, got a $25 million and 55 million euros one-year syndicated loan, with an option to extend for another year.

The annual interest rate on the loan is 70 basis points over international benchmarks, Sekerbank said in a statement to the Istanbul Stock Exchange today. Bank of Montreal (BMO), Commerzbank AG (CBK), Intesa Sanpaolo SpA (ISP) and Wells Fargo Bank arranged the loan which replaced a more expensive syndication facility Sekerbank got last year, according to the statement.

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Selcuk Gokoluk at sgokoluk@bloomberg.net

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