RENEWAL - Yapı Kredi Bank Secures $1.05 Billion Sustainable Syndicated Loan
Yapı Kredi (IS:YKBNK) has successfully secured a sustainable syndication loan amounting to a total of $1.052 billion with the participation of 45 financial institutions from 24 countries. This transaction, consisting of two separate tranches of $605.4 million and €410.1 million, represents the highest amount syndication loan the bank has achieved in the past six years. Yapı Kredi will utilize this source, which is a testament to the trust in both the bank and Turkey, under its Sustainable Finance Framework.
Continuing our support for green transformation, Yapı Kredi CEO Gökhan Erün stated that the bank's main approach to sustainability is based on creating long-term value for every area and stakeholder. He remarked, "At Yapı Kredi, we always adopt a responsible financing understanding to support our country's sustainable development. In this context, we aim to enhance the variety and volume of sustainable finance products as one of our primary objectives. Our collaborations with international banks are crucial not only for diversifying financing sources but also for enabling funding for sustainable-themed projects. By providing the highest amount sustainable syndication loan of $1.052 billion over the past six years, we have increased our support for green transformation and reaffirmed the trust in our country and bank on the international stage. In the forthcoming period, we will continue to offer financial solutions for our country’s sustainable development and stay one step ahead with the strength derived from our international collaborations."
The loan amount provided by Yapı Kredi is denominated in two currencies: $605.4 million and €410.1 million, with a maturity of 367 days. The costs are set at SOFR + 1.75% and Euribor + 1.50%, respectively. The joint coordinators of the syndication loan are Abu Dhabi Commercial Bank, Bank of America, Emirates NBD, and The Commercial Bank; the sustainability coordinators are First Abu Dhabi Bank, ING, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation; while Emirates NBD acted as the intermediary.