Turkey's Ziraat Bank secures $1.24 billion syndicated loan

Funding Rounds

▤ Summary

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

$ Funding

$
Amount $1.2B Total raised
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Date April 11, 2022 Announcement date
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Investors Reuters Venture Capital Lead investors
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Company https://ziraatbank.az Funded company

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