DenizBank, together with its majority shareholder Emirates NBD (ENBD), has signed a $400 million club loan agreement with Türkiye's army pension fund OYAK to support its long-term investment and growth plans, a statement said on Friday.
The facility has a six-year maturity, including a one-year grace period, the private lender said. OYAK will use the funds to finance strategic investments aligned with its sustainable growth objectives, according to the announcement.
The statement said the transaction underscores ENBD's confidence in the Turkish economy while reaffirming OYAK's ability to access international capital markets.
DenizBank CEO Recep Baştuğ said OYAK's solid financial structure and long-term vision make it one of Türkiye's most established institutions.
Baştuğ said the bank aims to support OYAK's activities both at home and abroad, helping increase its contribution to Türkiye's economy.
"This transaction is a tangible indicator of the trust placed in OYAK, and also demonstrates our bank’s leadership position and international reach in corporate financing," he added.
OYAK General Manager Murat Yalçıntaş described the agreement as an important step in the group’s investment strategy focused on growth and productivity.
"With this loan, we will strengthen our financing structure, focus on investments that will increase efficiency in our activities across different sectors, and reinforce our global competitiveness," Yalçıntaş noted.
