Denizbank of Turkey Seeks One-Year Loans to Refinance Debt
Stock Chart for Denizbank AS (DENIZ)
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 email@example.com
To contact the editor responsible for this story: Faris Khan at firstname.lastname@example.org
Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.