11/28/2019
$730-million Resource from International Banks to VakıfBank
VakıfBank has obtained $580 million of syndication loan including $239.5 million and €309.3 million. -It adds up to $730 million when the $150 million collected under project-guaranteed funding is included...
VakıfBank has obtained $730-million resource by syndication loans and project-guaranteed funding from overseas markets. According to VakıfBank's statement, the size of the syndication loan with a maturity period of 367 days is $580 million, and the transaction has received approximately 125 percent of excess demand. VakıfBank also obtained $150 million of loan with a maturity period of 3.5 years from overseas as part of project-guaranteed funding, thereby continuing to increase its diversity of its resources and extend the maturity period of its resources. 12 new banks that did not participate last year have taken part in the syndication loan of VakıfBank. VakıfBank General Director Abdi Serdar Üstünsalih noted that they obtained $580 million of syndication loan including $239.5 million and €309.3 million from overseas, and that 28 banks from 17 countries participated in the syndication lloan where Emirates NBD Capital is the agent bank and acts as a coordinator with the Commercial Bank of Qatar. Üstünsalih stated that the cost of the loan was Libor + 2.25 percent for the USD part and Euribor + 2.10 percent for the EUR part.
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