Eximbank nets record loan: IFR
Turk Eximbank has signed a US$1bn-equivalent sustainability-linked loan, the largest syndicated loan the bank has ever raised.
It replaces a US$728m-equivalent one-year SLL arranged in May 2024.
The financing comprises €499.5m, US$246m and Rmb1.34bn with one, two and, for the first time in nine years, three-year maturities.
The financing is linked to targets including increasing access to financing for women entrepreneur SMEs operating in regions with low per capita income and providing special financing support to SMEs exporting green products.
MUFG, Abu Dhabi Commercial Bank and ICBC coordinated the financing, with MUFG and SMBC acting as sustainability coordinators.
A total of 33 international banks, including nine new lenders, from Europe, the Far East and the Gulf regions took part in the financing, which closed with a 145% renewal rate.
Last May's financing comprised a €559.7m tranche and a US$120m tranche, paying all-in costs of 225bp over Euribor and 250bp over SOFR, respectively.
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