A one-year loan to finance exports valued at $200 million has been signed by Yapi & Kredi Bankasi in a club deal with 18 institutions. The loan carries interest of Libor plus 75 basis points.

The 18 institutions are: American Express Bank, Arab Banking Corporation, Bank of New York, Bank of Tokyo-Mitsubishi, Barclays Bank, Credit Lyonnais, Credit Suisse First Boston, Dresdner Bank, First Union International Bank, Gulf International Bank, Natexis Banque, Nations Bank, Royal Bank of Canada, Sanwa Bank, Skandanaviska Enksilda Banken, Societe Generale, Standard Chartered Bank and Union Bank of Switzerland.