Vakıfbank renews $1.2 billion sustainability-themed syndicated loan
State-owned lender VakıfBankhas announced it has successfully renewed its $1.2 billion-equivalent sustainability-themed syndicated loan.
The loan facility comprises $484 million and 574 million euros. The cost of the 367-day maturity loan was realized at SOFR + 1.25 percent for the U.S. dollar tranche and Euribor + 1.10 percent for the euro tranche.
“The transaction, which we renewed with a roll over ratio exceeding 110 percent with the participation of 44 banks from 18 countries, has been a significant reflection of VakıfBank’s long-standing correspondent banking relationships in international markets,” commented Osman Arslan, the CEO.
“The MLA-level participation of 16 banks in the transaction and the inclusion of five new banks that were not part of our syndication in the same period last year clearly demonstrate both the continued strong presence of VakıfBank in international markets and confidence in the Turkish economy,” he added.
