GarantiBank International N.V. closes EUR 250 million syndicated borrowing facility
While celebrating its 25th anniversary in the Netherlands, Amsterdam-based GarantiBank International N.V. (“GBI”, “Bank”) has closed its annual dual-currency 364 daysyndicated borrowing facility (“Facility”) amounting to EUR 136 million and USD 127.5 million. The Facility, which was initially 35% over-subscribed, was then scaled back for Mandated Lead Arrangers (“MLAs”) by 20% and approximately 4.5% for EUR tranche and USD tranche respectively and closed at equivalent of EUR 250 million. The all-in yield of the Facility is 75 basis points over 3-months Libor for the USD tranche MLAs and 60 basis points over 3-months Euribor for the EUR tranche MLAs.
41% of the funds were raised from Eurozone lenders while the share of non-Eurozone European Union lenders’ was 26.6%. North American lenders’ participation to the Facility was 23.8% and 8.6% was provided by Asian lenders. The agreement of the Facility was signed on 20-June-2016 and it was fully drawn on 27-Jun-2016. The Facility attracted 22 investors from 12 countries, with the participation of Wells Fargo Bank N.A., London Branch (Coordinator and the Documentation Agent), Standard Chartered Bank, Bayern LB (Facility Agent), Goldman Sachs International Bank, ING Bank Wholesale Banking, Raiffeisen Bank International AG and The Korea Development Bank, London Branch as the MLAs, Banca Transilvania SA, CITI and UniCredit Bank AG as the Lead Arrangers, and Rabobank, WGZ Bank AG Westdeutsche Genossenschafts-Zentralbank, BNP Paribas, Commerzbank Aktiengesellschaft Filiale Luxemburg, Deutsche Bank AG London Branch, KBC Bank NV, Bank of America Merrill Lynch International Limited, Harbin Bank Co. LTD, National Bank of Canada, JSC Rietumu Banka, Bank of Montreal and Banco Popular Español S.A. as the Managers.
GBI is a customer-centric transaction banking provider offering value-adding financial solutions to its customers and counterparties worldwide in the areas of trade and commodity finance, private banking, treasury, and structured finance while maintaining multi-product relationships with local and global financial institutions around the world. The Bank’s main funding source is retail deposits collected in the Netherlands and Germany through conventional and digital banking channels. Being present in Amsterdam, Dusseldorf, Geneva, Kiev and Istanbul, GBI operates under the direct supervisions of the European Central Bank and the Dutch Central Bank, and maintains a long term deposit rating of A3 by Moody’s. GBI’s sole shareholder is Türkiye Garanti Bankası A.Ş., which is fully consolidated under Spain’s BBVA, Banco Bilbao Vizcaya Argentaria S.A.