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Yapı ve Kredi Bankası secures another syndicated loan

Turkey-based Yapi ve Kredi Bankasi AS signed a syndicated loan agreement comprising tranches of $332 million, $50 million, €898 million and €25 million.

The issuance involved 48 banks from 19 countries. The all-in cost of a 367-day tranche of the loan will be equivalent to the London Interbank Offered Rate plus 130 basis points and the Euro Interbank Offered Rate plus 120 basis points, while the all-in cost of a two-year-and-one-day tranche will be LIBOR plus 210 basis points and EURIBOR plus 150 basis points.

Proceeds will be used for trade finance and general corporate purposes.