Turkey's Ziraat Bank secures $1.24 billion syndicated loan

Istanbul headquarters of the state-run Ziraat Bank is pictured in Maslak district, Turkey, June 22, 2016. REUTERS/Murad Sezer ISTANBUL, April 11 (Reuters) - Turkeys Ziraat Bank said on Monday that it had secured a syndicated loan totaling $1.24 billion which will be used according to environmental sustainability criteria and to support gender equality in production. In a statement, the state bank said $352.5 million of the loan was borrowed at the secured overnight funding rate (SOFR) plus 275 basis points and a 814 million euro ($885.88 million) portion was borrowed at Euribor plus 210 basis points. The loan saw interest from 45 banks in 21 countries, Ziraat said. Reportin by Ebru Tuncay; Writing by Ali Kucukgocmen; Editing by Christopher Cushing