Akbank has rolled over the $1.1 billion due portion of its March 2017 syndicated loan facility as $1.2 billion by increasing the size.
The bank set a new record by attracting $1.5 billion of global response from international banks in its syndicated loan facility despite lowering the all-in costs compared to the previous year.
Akbank also secured approximately $800 million through its Diversified Payment Rights securitization program.
Akbank CEO Hakan Binbaşgil said the bank's syndicated loan facility and securitization deal once again received overwhelming global response from international investors. "We are proud to conclude new deals that demonstrate increasing foreign investor interest in Turkey's banking sector. Our syndicated loan facility has garnered new participation of international banks. Despite lowering the all-in costs by 15 basis points, our syndicated loan facility attracted $1.5 billion, resulting in a significant oversubscription by more than 1.3 times."
Binbaşgil underlined that Akbank has secured the equivalent of $2.4 billion financing through its Tier 2 eurobond issuance, syndicated loan facility and securitization issuance for the real sector and economy year to date.
"High participation in the deals speaks to Akbank's strong reputation and is significant in demonstrating the investors' faith in the Turkish economy as well as showing increasing foreign investor interest," he concluded, emphasizing the bank's commitment to the Turkish economy by drawing more international investors.
