Turkish bank Yapi Kredi has closed a syndicated loan worth US$1.5bn, adding eight new lenders to its existing debt facility.

The facility is dual currency, split into two tranches: US$332mn and €898mn in a 367-day tranche, and US$50mn and €25mn in a two-years-plus-one-business-day tranche. The funds will go towards general trade finance purposes, including financing export and import contracts.

There were 48 banks from 19 countries on the ticket. A Yapi Kredi spokesperson declined to tell GTR the names of the lenders. The joint co-ordinators of the transaction were ICBC, First Abu Dhabi Bank and Standard Chartered, with Mizuho as the facility agent.

The all-in pricing of the 367-day tranche was Libor plus 1.30% and Euribor plus 1.20% a year respectively. The two-year-and-a-day facility was priced at Libor plus 2.10% and Euribor plus 1.50% a year, per currency.

Yapi Kredi is a frequent visitor to the syndicated loans market. It signed the largest Turkish syndicated loan deal to date in 2011 – a US$1.45bn dual-tranche loan oversubscribed by 145% – and has rolled over its facility each year. It refinanced its April 2015 package with two tranches of US$381mn and €959mn, respectively, in May 2016. In May 2017, Yapi raised the equivalent of US$1.35bn in its RCF, again with 48 banks.