Turkey’s Akbank is in the process of closing a one-year US$1.5bn syndicated loan, a source at the bank confirms.

The source tells GTR that the signing will take place “in about two weeks”. The latest unofficial amount has reached US$1.5bn, but this could change in the coming weeks.

The loan, which will be used towards general trade finance purposes, has an all-in pricing of Libor plus 135 basis points and Euribor plus 135 basis points respectively.