Finansbank aims to set an example as a leading bank.
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With its strong financial standing and sound management, Finansbank remained solid and proved itself credible despite the turmoil in the global markets.
Banking Relations and Structured Funding Team, through its efforts in various platforms, preserved its ties with its relationship banks across various products, i.e. trade, funding, international payments and treasury. The Bank borrowed a total of USD 2 billion from the international markets in 2011.
In May, Finansbank raised a 5 year USD 500 million Eurobond in the international capital markets with the participation of 115 global investors. The coupon was %5.5. Fitch and Moody's rated the transaction BBB- and Ba1 simultaneously.
Also in May, the Bank signed agreements with EIB for SME and energy financing each for EUR 75 million and for 7 and 12 years, respectively.
Finansbank's international syndicated borrowing for the amount of USD 220,000,000 and EUR 210,000,000 was successfully closed in December, attracting commitments from 22 international banks. The Facility had a maturity of 1 year and the proceeds of the loan will be used for our customers' general trade finance activities. Despite the squeeze in liquidity and increased cost of funding in the global markets, the total cost of the Facility was maintained at Libor/ Euribor plus 1.3% pa level of 2010.