Turkey’s Is Bankasi (Isbank) has signed a one-year US$1.2bn equivalent syndicated dual tranche loan with 51 banks.

The loan comprises a US$241mn and a €742.5mn tranche, priced at Libor over 145 basis points and Euribor over 145 basis points respectively.

The loan will be used for financing international trade and has a one-year extension option.