Turkey's Finansbank obtains $725 million credit facility

By Reshmi Basu

New York, Nov. 10 - Finansbank said it obtained a syndicated loan facility of $725 million.

The loan carries an interest rate of Libor plus 50 basis points.

Proceeds will be used for export and pre-export financing.

The coordinator is HVB Group (Bayerische Hypo-und Vereinsbank AG/Bank Austria Creditanstalt AG).

The private bank is located in Istanbul, Turkey.

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