Akbank has successfully renewed its USD 600 million syndicated loan facility with a syndicated sustainability loan of USD 750 million. The loan has three tranches of 1 year, 2 year and 3 year maturities. All-in cost of 1 year tranche is SOFR+1.60% and Euribor+1.35%; all-in cost of 2 year tranche is SOFR+2.00% and Euribor+1.75%; and all-in cost of 3 year tranche is SOFR+2.25% and Euribor+2.00%. 51 banks from 21 countries participated in the facility, with 13 new participating banks.
Akbank reflected its innovative approach in wholesale funding by adding a 3 year tranche based on investors’ longer term Akbank appetite thanks to its solid reputation in international markets. With its October 2024 syndicated term loan facility, Akbank had reopened the longer term tranches in the Turkish syndication loan markets. Also, Akbank was the pioneer bank in Turkiye which linked the syndicated term loan facility with its Sustainable Finance Framework with its April 2024 syndicated term loan facility.
Regarding Akbank’s April 2025 sustainability syndicated term loan facility, Akbank CEO Kaan Gür noted, “We are very proud to lead another successful transaction, and reinforcing the trust that both Akbank and the Turkish economy have cultivated. By including a 3 year tranche in our sustainability syndicated term loan, we have met investors' demand for longer term Akbank risk. With demand exceeding USD 1 billion, Akbank successfully renewed the loan at USD 750 million, achieving a 125% rollover ratio. We extend our sincere thanks to all of our relationship banks for their invaluable support in this transaction.”
According to Levent Çelebioğlu, Executive Vice President of Corporate & Investment Banking, “The proceeds of the sustainability syndicated term loan facility will be allocated in accordance with our Sustainable Finance Framework. We limited the rollover amount to USD 750 million with the record demand from 13 newly participating and 51 banks in total. We also believe adding 3 year tranche for the first time in nine years, thanks to Akbank’s extensive network of correspondent banks, has an important contribution to extending our overall funding maturity. We will maintain our efforts that lead the sector.”