Denizbank of Turkey Seeks One-Year Loans to Refinance Debt

Denizbank AS (DENIZ), the Turkish bank bought by Russia’s OAO Sberbank, is seeking one-year loans to refinance credit maturing in October, according to data compiled by Bloomberg.

Denizbank plans to pay an all-in cost of 135 basis points more than benchmark lending rates for the new borrowing in euros and dollars, including an interest margin of 75 basis points, Bloomberg data show. A basis point is 0.01 percentage point.

The Istanbul-based lender is seeking to replace $646 million of term loans signed last year, according to the data.

To contact the reporter on this story: Patricia Kuo in London at pkuo2@bloomberg.net

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net

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