Standard Bank Plc, a member of Standard Bank Group, acted as mandated lead arranger for a € 30-million secured term loan facility for AY Marka Mağazacılık A.Ş. ('AY Marka').
Standard Bank Plc was also the security agent on this three-year amortising facility secured by an assignment of credit card receivable flows from three local banks.
An oversubscription was achieved during acarefully targeted, limited general syndication. Standard Bank Plc has beenjoined by Amsterdam Trade Bank N.V., Finansbank A.Ş., Emirates NBD Bank PJSC and Federated Project and Trade Finance Core Fund as lenders.
AY Marka is the textile and apparel arm of Altınyıldız Mensucat ve Konfeksiyon Fabrikaları A.Ş. ("Altınyıldız"), a company established in 1952 and listed on the Istanbul Stock Exchange (ISE). Boyner Holding A.Ş., one of the largest non-food family owned retail groups in Turkey, which founded the group, holds 80% of Altınyıldız with the remaining 20% held by investors via the ISE.
AY Marka operates through a broad sales network of 352 sales points and 144 standalone stores across Turkey.
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