Turk Eximbank provided a syndicated loan

Turk Eximbank announced that it provided a total of 728 million dollars in funding through a sustainability-linked syndication loan. Turk Eximbank provided a total of 728 million dollars, consisting of 560 million euros and 120 million dollars, through the Bank’s fifth sustainability-linked syndication loan transaction. With a 1-year maturity transaction coordinated by MUFG Bank, Ltd. and Abu Dhabi Commercial Bank, where MUFG Bank’s Sustainability Coordinator took place, Turk Eximbank renewed its syndication loan by 110 percent. There was significant demand from international markets with a 190 basis point cost reduction compared to the same period of the previous year for the syndication loan provided. According to the statement from the Bank, a total of 34 leading financial institutions from Europe, America, the Far East, and the Gulf regions participated in the transaction, including 14 new ones. Ali Guney, the General Manager of Turk Eximbank, stated in his announcement regarding the successfully completed syndication transaction, “We are proud to have renewed our syndication transaction by over 100%, adding sustainability performance criteria, including the goal of increasing our credit support to facilitate access to finance for women entrepreneurs’ SMEs and providing funding to SMEs engaged in green product exports based on sustainability principles. We consider the decrease in costs and the participation of 14 new financial institutions as an important development reflecting the trust in our country and institution. We hope that the $3.2 billion in international funding we have provided since the beginning of the year will be beneficial for the export sector and our country with this transaction.