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 542 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+1.00%; 2-year tranche at SOFR+1,75% and Euribor+1.45%; and 3-year tranche at SOFR+2.00%. 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 891 million demand with a total of 37 participating banks from 19 countries, 5 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.
In his statement, Akbank CEO Kaan Gür noted, “We have renewed the 1-year tranche of our October 2025 syndicated loan at USD 542 million, achieving a rollover ratio of 107%. We were also pleased to see continued strong interest in the 3-year tranche this year. The fact that 45% of this syndicated loan now consists of 2 and 3-year tranches once again demonstrates the enduring confidence of international investors in Akbank over the longer term. By allocating the proceeds of the 2- and 3-year tranches in line with our Sustainable Finance Framework, we have also continued to 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. We believe this transaction also sets a benchmark for our sector and sends a strong message to international markets. We would like to thank all participating banks for their support.”