Akbank signs $1.2b term loan facility

Turkey-based

Akbank said yesterday it has concluded a dual currency loan of $1.2 billion, and the proceeds will be used for its trade finance and general corporate purposes. The dollar denominated loan will cost the bank London inter-bank offer rate (Libor) plus 1.45 per cent per annum, while the euro loan will cost the 1.35 per cent over and above the EURIBOR, the bank said in an emailed statement.

“Despite the domestic volatility, the facilities achieved a strong global response,” the bank added.

(Staff Report)