Through its syndicated social loan renewal, Akbank has provided USD 500 million in support of the Turkish economy. The loan has 367-days maturity with an all-in cost of SOFR+4,25% and Euribor+4,00%. 30 banks from 16 countries participated in the social syndicated loan, which is a first in Turkey.
Regarding Akbank’s syndication transaction, Akbank CEO Hakan Binbaşgil noted, “Despite the ongoing challenges in the global economy, we have signed our first syndicated social loan with US 500 million. We would like to thank all investors and relationship banks who participated and supported our transaction.”
“We continue our sustainability journey with Turkey's first social syndicated loan”
Highlighting Akbank's continued support to the region and customers after the devastating earthquake in Turkey, Levent Çelebioğlu, Executive Vice President of Akbank Corporate & Investment Banking commented, “We have updated our Sustainable Finance Framework in line with local and international regulations to match industry standards and we continue our sustainability journey with our syndicated social loan, which is a first in Turkey. Our syndicated social loan, which will be used to support the trade finance transactions of our customers affected by the earthquake, enhances our innovative sustainability vision too.”