Istanbul-based DenizBank, which entered the private placement market earlier this month, settled an upsized deal last week via sole agent Merrill Lynch, sources said.

The Turkish bank, which was originally seeking $200 million, walked away with $300 million structured in three tranches. A $70 million five-year final and 3.6-year average life priced at Libor plus 200 basis points, or a 6.038% coupon; a $150 million floater priced at Libor plus 200 basis points and an $80 million seven-year final/5.1-year average life tranche priced at Libor plus 225 basis points, sources said.

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