Fitch Ratings has upgraded Tekstil Bank's National Long-term Rating to 'A(tur)', from 'A-(tur)' with a "Stable" outlook, due to relative improvement in the bank's credit strength within its Long-term IDR category, highlighted by key sound financial indicators. Fitch stated that Tekstilbank's upgrade also reflected its conservative approach to risk and prudent overall policies contributing to preserve a sound credit profile. The Agency kept Tekstilbank's all other ratings and outlook intact as below:
Long-term foreign currency and local currency Rating: 'B+'; Outlook "Stable"
Short-term foreign currency and local currency Rating: 'B'
Viability Rating: 'b+'
Support Rating: '5'
Fitch Ratings has upgraded Tekstilbank's Long-Term Local Currency as well as Foreign Currency Issuer Default Ratings to "B+" from "B" and the National Long-Term Rating to "A-"(tur) from "BBB+"(tur).
The Short-Term Local Currency and Foreign Currency Issuer Default Ratings has been affirmed as "B", Individual Rating as "D", Support Rating as "5", "No Floor". The Outlook for the Long Term Ratings is Stable.
Fitch Ratings has re-affirmed Tekstilbank's Long-Term and Short-Term Foreign as well as Local Currency Issuer Default Rating (IDR) as "B", Individual Rating as "D", Support Rating as "5" and the National Long-Term Rating as "BBB+" with a Stable Outlook as at 17 December 2009.
MLA's : American Express Bank Ltd, Arab Bank PLC, Banque Misr SAE, Bank Muscat International SAOG, Bank of Ireland, Bayerische Landesbank, Commercial International Bank (Egypt) SAE, Commerzbank AG, Emirates NBD PJSC, Erste Bank AG, Gulf International Bank BSC, Hypo Alpe Adria, JP Morgan Chase Bank NA, Mashreq Bank PSC and Wachovia Bank NA
Arrangers : Dexia Bank and National Bank of Greece SA
Co- Arrangers : Aka Export Finance Bank, Citibank, Landesbank Baden Württemberg, Standard Chartered Bank, Oyak Anker Bank
Lead Managers : National City, Bank of Nova Scotia, Ziraat Bank International AG Branches & ATM's
Managers : Bank of Montreal, EMRO Finance, Intesa San Paolo SpA, KBC Bank, Monte dei Paschi di Siena SPA, Rabobank International, Banca UBAE SpA and Zürcher Kantonal Bank.
The Facility will be utilized to finance pre-export, export and general trade finance requirements of our selected clientele.
Yaylada Alışveriş Merkezi Branch inaugurated at Yaylada Alışveriş Merkezi Gümüşçeşme Mah. Bursa Yolu 1.Km Balıkesir.
İstanbul Taksim Branch inaugurated at Abdülhakhamit Caddesi No: 25 Beyoğlu/İstanbul.
Bursa Minteks Tekstil ATM inaugurated at Bursa-İzmir yolu 27. km.
İstanbul Beylikdüzü Branch inaugurated at Beylikdüzü Mehter Çeşme Mahallesi 2057 Sok. No:13 Esenyurt Büyükçekmece/İstanbul.
İzmir Çiğli Organize Sanayi Branch inaugurated at İAOSB - M.Kemal Atatürk Bulvarı Çarşı Merkezi No: 42/11 Çiğli/İzmir.
Kayseri Sanayi Branch inaugurated at Osman Kavuncu Cad. No:191/B Melikgazi Kayseri.
Adana Küçüksaat Branch inaugurated at Özler Caddesi Veli Gözcan İş Hanı No: 6/A Seyhan Adana.
İzmir Gıda Çarşısı Branch inaugurated at Gıda Çarşısı 1202/2 Sk. No:2/B Yenişehir Konak/İzmir.
Trabzon Branch inaugurated at Kahramanmaraş Cad. No:31 Trabzon.
Sefaköy Branch inaugurated at Küçükçekmece Dairesi Fevzi Çakmak Mah. Kocabıyık Sok. No:12/1-2-3 Sefaköy Küçükçekmece/İstanbul.
Kozyatağı Branch inaugurated at Atatürk Caddesi No: 32/1 Sahrayıcedit Kadıköy/İstanbul.
Bursa Nilüfer Branch has inaugurated at İhsaniye Mah. İzmir Yolu Fatih Sultan Mehmet Bulvarı Girişi No: 128/19 Nilüfer/Bursa.
Dudullu İmes Branch has inaugurated at Yukarı Dudullu Keyap Çarşısı B-1 Blok No: 23 Dudullu Ümraniye/İstanbul.
Beşiktaş Branch has inaugurated at Barbaros Bulvarı No: 79/1A Beşiktaş/İstanbul.
Ankara Ostim Branch has inaugurated at Ostim Organize Sanayi Bölgesi Uzay Çağı Cad. No: 82 Yenimahalle/Ankara.
Tekstilbank received US$ 300,000,000 dual-tranche Syndicated Term Loan Facility from 47 prominent international banks; signing ceremony took place on July 13, 2006 in Istanbul.
The deal is split between a 364-day Tranche A and a two-year Tranche B. Tranche A, which will be used to finance the pre-export and export finance requirements of the borrower's customers, carries 1 year extension option and pays a margin of 40 bps whereas Tranche B, which will finance the general trade-finance related requirements of the borrower's customers, pays a margin of 80 bps.
Mandated lead arrangers are: American Express Bank, Arab Investment Co, Bayerische Hypo- und Vereinsbank, Commerzbank, Citibank, Doha Bank, Dubai Bank, GarantiBank International, HSH Nordbank, Mashreqbank, National Bank of Egypt (UK), RZB, Standard Bank plc, Standard Chartered Bank and Wachovia Bank.
As per Council of Ministers decree dated 23.07.2006 nr 2006/10731all mutual funds revenues will be subject to 10% witholding tax as of 1.10.2006.