Rabobank has got together with the International Finance Corp. (IFC), the World Bank's private lending arm, to launch what the bank says is the first securitization of onshore Turkish assets and the first true securitization to make use of the IFC's preferred creditor status.

The $43 million equipment lease backed-deal for Garanti Leasing, an affiliate of Garanti Bank, securitizes the "B" portion of a $50 million loan made by the IFC to Garanti Leasing (the IFC retains the $7 million "A" loan).

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