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FinancialNews
29-05-21
Turkey's private lender Isbank signs loan deal worth USD1B
(MENAFN)A bank declaration showed that Turkey's private lender Isbank signed a sustainability-related syndicated loan deal valued at about USD1 billion, with the participation of 38 banks from 18 countries.
The loan is secured through two different tranches: €544.7 million (USD665 million) and USD300 million, at 367 days maturity, with a roll-over ratio of 110 percent.
It further declared that Sustainability performance criteria were determined within the scope of the deal, saying that if the bank's performance criteria such as electricity supply from renewable sources and raising the proportion of disabled-friendly cash machines to the total amount of ATMs are convened, the costs of the syndication loan will develop.
"Maintaining its position as Turkey's largest private bank, Isbank supports the financing of foreign trade transactions of companies operating in the real sector with these loans," Isbank's Deputy General Manager Gamze Yalcin declared.
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