Akbank has successfully renewed the 1 year tranche of its October 2024 syndicated loan facility, contributing USD 650 million to the Turkish economy. The loan denominated in EUR and USD consists of 6 tranches of 1 year, 2 year and 3 year maturities. All-in cost of 1 year tranche is SOFR+1,50% and Euribor+1,25%; all-in cost of 2 year tranche is SOFR+1,90% and Euribor+1,65%; and all-in cost of 3 year tranche is SOFR+2,15% and Euribor+1,90%. The 2 and 3 year tranches in the renewed syndication will be used towards financing in accordance with Akbank’s renewed Sustainable Finance Framework. The transaction has received over USD 1 billion demand with a total of 46 participating banks from 20 countries, 8 of which are new participants.
Regarding Akbank’s October 2025 syndicated term loan facility, Akbank CEO Kaan Gür noted, “Following international investors’ demand for longer maturities, we have once again repeated the success we achieved with our inaugural 3-year tranche, which we launched in April 2025 for the first time in nine years, renewing our syndicated loan at USD 650 million and achieving a 114% rollover ratio. With the 2 and 3 year tranches to be utilized in line with Akbank’s Sustainable Finance Framework, we continued to advance our sustainability strategy and to support the Turkish economy. We are proud to have led this successful transaction, which demonstrates investors’ confidence in both Akbank and the Turkish economy, and would like to extend our sincere thanks to all participating banks.”
Şebnem Muratoğlu, the Executive Vice President of Treasury and Financial Institutions, has noted “We have renewed the 1 year tranches of our October 2024 syndicated loan, which had brought back longer maturities to the sector for syndicated facilities, with a new syndicated loan consisting of 1 year, 2 year and 3 year tranches. Through our effective balance sheet management, we have successfully completed our second syndicated loan transaction of the year. We will continue to lead the sector, underpinned by Akbank’s strong reputation in international markets. We would like to extend our thanks once more to all the participating banks.”
In Akbank’s April 2025 syndication, investors have shown increased demand for longer duration tranches with 2 and 3 year maturities, reflecting Akbank’s solid reputation in international markets and strong track record in wholesale funding transactions. Following this successful syndication earlier in the year, investors have once again demonstrated increased appetite for longer duration Akbank risk with high demand for 2 and 3 year tranches in the October 2025 syndication.