DPR Business - Hazy But Not Lazy

September 8, 2008

The lazy, hazy days of summer didn't fully envelop residents of the DPR world. They weren't exactly lazy, when a handful of DPR deals either closed or ramped up in a market so grim that any cross-border closing is an event. But 'hazy' isn't so far off the mark, as players hid details as best they could. Turkiye Garanti Bankasi originated a deal where the involved parties let in some light, though pricing stayed in the dark. Barclays Capital led the Ä200 million, 10-year transaction sold entirely to the European Investment Bank (EIB), a multilateral that entered the sector of diversified payment rights only a few weeks earlier. Garanti was following in the still-fresh footsteps of Turkish peer Akbank, which closed a $393 million transaction via WestLB.

The full article is available to Structured Finance News subscribers only

Already a print subscriber? As a print subscriber, you are entitled to online access. Please click here to activate your account.