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5.4 External Debt
Dutch bank ING’s Turkish unit, ING Bank Turkey, on August 1 obtained a 367-day syndicated loan worth $305mn, the lender has announced. The loan was made in two tranches. Its €190mn tranche has an all-in cost of Euribor+2.40% and its $96mn tranche Libor+2.50%.
The rollover ratio stood at 49%. In July last year, ING Turkey renewed its
39 TURKEY Country Report September 2019 www.intellinews.com
