İş Bank Signs Dual-Tranche Sustainable Syndicated Loan Agreement

Forex - Türkiye İş Bankası (IS:ISATR) has signed a sustainable syndication loan agreement amounting to 494.9 million euros and 584.5 million US dollars, with a maturity of 371 days.

According to a statement from the bank, Bank of America, Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited, and Standard Chartered Bank acted as coordinators for the loan agreement; Standard Chartered Bank served as the sustainability coordinator, while Emirates NBD Bank (P.J.S.C) acted as the agent bank.

The loan, which will be used to finance activities aimed at providing positive impact in environmental and/or social areas as per İş Bankası’s Sustainable Financing Framework, saw participation from 48 banks across 23 countries in the Americas, Europe, Middle East, and Asia. This transaction included 10 new banks.

The total cost of the portion contributed by the banks with the highest participation in the syndication was Euribor + 1.50% for the euro tranche and SOFR + 1.75% for the US dollar tranche.

Hakan Aran, General Manager of İş Bankası (IS:ISCTR), emphasized in his statement regarding the syndication loan that securing sustainability-based funding is a part of the bank's strategic objectives. He stated, “With this funding, we will continue to support sustainable transformation in the economy. We have renewed the financing we provided in the same period last year by 124% with this amount of 1.1 billion US dollars. With this loan, the total external funding volume provided by our bank abroad in 2024 has exceeded 5 billion US dollars. Such resources are concrete indicators of trust in our country and İş Bankası, which is celebrating its 100th anniversary, and are also significant tools in achieving our goals. In our second century, we will continue to support economic development.”