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Isbank secures dual-currency syndicated loan

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Isbank secures dual-currency syndicated loan

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.