Turkey’s Yapi Kredi has successfully closed a $1.35bn equivalent syndicated loan facility.
The facility comprises of a US$306mn tranche and a €956.5mn tranche split between tenors of 367 days and two years and one day.
The all-in pricing of the 367- day facility loan was Libor+1.45% for US dollars and Euribor+1.35% for euros, while the two year and one day facility was priced at Libor+2.20% for US dollars and Euribor+2.10% for euros.
The facility agent for the deal is Mizuho, while co-ordinators of the transaction are Industrial and Commercial Bank of China and Standard Chartered Bank.
48 banks from 19 different countries participated. The facility will be used for general trade finance purposes including financing of export and import contracts.
Turkey’s Garanti Bank also reported closing a €1.25bn equivalent syndicated loan facility this week.