Monday 27, March 2017 by Nabilah Annuar

Akbank signs $1.2 billion multicurrency and dual tranche syndicated term loan

Akbank has announced the successful conclusion of its $404,512,884 & €738,271,106 Dual Currency Term Loan Facilities signed on 22 March 2017.

The facilities incorporate a USD 367 day term facility, a EUR 367 day term facility and a two year plus one business day USD facility; these will primarily be utilised for Akbank’s trade finance and general corporate purposes. 

The all-in cost of the 367-day facilities is LIBOR + 1.45 per cent p.a. for USD commitments and EURIBOR + 1.35 per cent p.a. for EUR commitments; and the all-in cost of the 2-year + 1 business day facility is LIBOR + 2.20 per cent p.a.

Despite the domestic volatility, the Facilities achieved a strong global response with the participation of 38 international banks across North America, Western Europe, Asia and the Middle East which is a testament to Akbank's strong fundamentals and successes through volatile markets, as well as the resilience of the Turkish financial sector.

Bank of America Merrill Lynch, Emirates NBD Capital Limited, and ICBC Turkey Yatırım Menkul Değerler A.Ş acted as Joint Coordinators & Bookrunners on the transaction. Bank of America Merrill Lynch also acted as Documentation Agent, Emirates NBD Capital Limited acted as Publicity Agent and Mizuho Bank acted as Facility Agent.

Participating banks included 19 Bookrunning Mandated Lead Arrangers, 3 Lead Arrangers and 16 Arrangers.

Bookrunners & Mandated Lead Arrangers:

Abu Dhabi Commercial Bank, The Arab Investment Company, Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, China Development Bank Corporation, Citibank, Commerzbank, Deutsche Bank, Emirates NBD Capital Limited, HSBC, Industrial and Commercial Bank of China, ING, J.P.Morgan, Mizuho Bank, Natixis, Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation.

Lead Arrangers:

The Bank of New York Mellon, Banca UBAE, and Wells Fargo Bank.

Arrangers:

Axis Bank, Banca popolare dell’Emilia Romagna (Europe) International, Banco de Sabadell, CaixaBank, CoBank, Credit Suisse, DZ BANK AG, Goldman Sachs, Habib Bank Limited, Intesa Sanpaolo, KfW IPEX-Bank, Mashreq Bank, Raiffeisen Bank International AG, UBI Banca, Union De Banques Arabes Et Francaises, and Zürcher Kantonalbank.

 

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