Türkiye Is Bankasi AS signed a syndicated loan agreement comprising tranches of $447 million and €867.6 million, the Turkish lender said May 17.
The loan has a maturity of 367 days. The all-in cost for the highest participation level of the dollar-denominated tranche is equivalent to the London Interbank Offered Rate plus 1.30%, while that of the euro-denominated tranche is Euro Interbank Offered Rate plus 1.20%.
Isbank said proceeds will be used for trade finance purposes.
