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Yapı ve Kredi Bankasi secures dual-currency syndicated loan

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Yapı ve Kredi Bankasi secures dual-currency syndicated loan

Turkey-based Yapi ve Kredi Bankasi AS signed a syndicated loan agreement comprising tranches of $411.3 million and €799.7 million.

The issuance involved 37 banks from 17 countries. The all-in cost of a 367-day tranche of the loan will be equivalent to the London Interbank Offered Rate plus 135 basis points and the Euro Interbank Offered Rate plus 125 basis points, while the all-in cost of a two-year-and-one-day tranche will be LIBOR plus 220 basis points and EURIBOR plus 210 basis points.

Proceeds will be used for trade finance purposes.