Yapi Kredi closes syndicated loan
Yapi Kredi has closed a one-year US$1.47bn syndicated dual-tranche term loan facility with the help of 44 banks.
UniCredit acted as the coordinating bank and documentation and facility agent on the deal, which also included the support of 19 senior mandated lead arrangers (MLAs) and MLAs. UniCredit could not disclose the names of the lenders when contacted by GTR.
The loan comprises a US$264mn and a €864.5 tranche and will be used to finance the bank’s pre-export and export contracts.
The facility will pay Euribor plus 1.45% and Libor plus 1.45% a year respectively, and replaces a US$1.45bn dual-tranche, multi-currency facility signed in April last year.
The existing facility was refinanced with an over 100% roll-over ratio, despite the worsening of global economic conditions, Yapi Kredi says.