TURKISH BANK SEEKS 20 MLN DLR LOAN
Uluslararasi Endustri ve Ticaret Bankasi
AS (INTERBANK), a large privately-owned trade financing bank in
Turkey, is seeking a 20 mln dlr committed export advance
facility, Morgan Guaranty Ltd said as lead manager.
    The financing will be for 14 months, but the borrower will
have the option after 10 months to request an extension for
another six months. Those banks wishing to extend would receive
another 25 basis point fee.
    The financing will be in dollars and marks, although mark
borrowings cannot exceed 50 pct of the facility.
    The facility will be available for 70 days and interest
will be at 1-1/4 pct over the London Interbank Offered Rate
(LIBOR). There will be a commitment fee of 50 basis points.
    Banks are being invited to join the facility at four mln
dlrs for 55 basis points and at two mln dlrs for 40 basis
points.
    Responses are due by April 3 and the financing is being
syndicated among a broad-based group of international banks to
diversify the borrower's traditional lending base.
 REUTER
