Turkish Banking Continues to Provide Syndication Abroad

Turkish Banking Continues to Provide Syndication Abroad Turkish banking continues to provide syndication abroad. Yapı Kredi announced that it has secured a two-tranche syndication with a maturity of 367 days, with an approximate amount of USD 805 million. While Turkish banking continues to provide syndication, a new piece of news came from Yapı Kredi. In the statement made by Yapı Kredi to the Bank's Public Disclosure Platform, it was stated that a syndicated loan agreement of approximately 805 million dollars, consisting of two separate tranches of 284 million dollars and 440.5 million Euros with 367 days maturity, was signed. According to the statement, the total cost of the syndicated loan, which will be used for the financing of foreign trade and general corporate purposes, was recorded as Libor + 2.50 percent and Euribor + 2.25 percent for the US Dollar and Euro respectively, and 38 financial institutions from 20 countries participated. With the accordion feature included in the contract, it has been reported that the syndicated loan amount may increase with new participation.