5/6/2016
Yapı Kredi Bank Renewed Its Syndication Loan
Yapı Kredi announced that it received a syndication loan of $1.5 billion with the participation of 48 banks from 15 countries. The syndication loan was provided in two different currencies, $381 million and €959 million
Yapı Kredi announced that it received a syndication loan of $1.5 billion with the participation of 48 banks from 15 countries. The syndication loan was provided in two different currencies, $381 million and €959 million. The cost of the syndication loan, provided with a fixed term of 367 days, was Libor + 0.85% and Euribor + 0.75%. Therefore, with the first syndication transaction of 2016, the bank renewed the loan it received last April by over 100%. Yapı Kredi CEO Faik Açıkalın stated that they have been continuing to support Turkish economy and real sector in the first quarter of the year, and made the following assessments: "This resource Yapı Kredi received in this period when US Federal Reserve’s (FED) interest increase period started and there are fluctuations in markets confirms our reputation and reliability in the international arena. We will continue supporting imports with the resource of $1.5 billion we received with this successful agreement, in which Yapı Kredi's strong financial standing and large network of journalist relations are effective. Diversification of funding resources will continue to be one of the issues we focus on and attach importance in 2016. We will continue supporting the country's economy by using the syndication loan and other financial instruments throughout the year. As Yapı Kredi, we will continue supporting imports and real sector within the framework of our customer-focused understanding of banking".
Annual Report
