Strong international demand reaffirmed confidence in the Turkish economy, the Turkish banking sector, and Akbank.
Akbank has successfully renewed its syndicated loan with a new USD 700 million facility consisting of 6 tranches with 1-year, 2-year and 3-year maturities. The loan is denominated in USD and EUR with all-in cost of 1 year tranche set at SOFR+1.25% and Euribor+1.10%; 2-year tranche at SOFR+1,75% and Euribor+1.60%; and 3-year tranche at SOFR+2.00% and Euribor+1.80%. The 2- and 3-year tranches in the renewed syndication will be used towards financing in accordance with Akbank’s Sustainable Finance Framework. The transaction has received over USD 1.17 billion demand with a total of 47 participating banks from 18 countries, 10 of which are new participants and once again demonstrated the strong confidence in Türkiye’s macroeconomic stability, the resilience of its banking system, and in Akbank.
Regarding Akbank’s renewed syndicated term loan facility, Akbank CEO Kaan Gür noted, “We have renewed the 1-year tranche of our April 2025 syndicated loan at USD 700 million, achieving a rollover ratio of 136%. In addition, the 2- and 3- year tranches of the facility will be utilized in line with our Sustainable Finance Framework, allowing us to further advance our sustainability strategy. Strong demand and broad participation from international banks once again reaffirmed confidence in Akbank, while also underscoring belief in the sound fundamentals of the Turkish economy and its banking sector.”
Gür continued: “With its strong capital structure, effective risk management and disciplined approach, our banking sector continues to demonstrate its resilience under all circumstances. As we remain committed to supporting the Turkish economy, we believe this transaction also serves as a benchmark for our sector, offering a positive signal to international markets. We extend our sincere thanks to all participating banks for their support and confidence.”
Şebnem Muratoğlu, the Executive Vice President of Treasury and Financial Institutions, has noted “We are pleased to see that strong interest has continued this year in the 3-year tranche, which we launched when renewing the 1-year tranche of our April 2025 syndicated loan, reintroducing it to the Turkish syndication market after 9 years. The fact that %53 of this syndicated loan now consists of 2- and 3-year tranches once again highlights international investors’ sustained confidence in Akbank’s long-term reliability. We sincerely thank all participating banks.”