Akbank and Ülker raise loans, lenders demonstrate resilience

Adobe_Akbank_230x150_02April2020
By Mariam Meskin
02 Apr 2020

Turkey’s Akbank has refinanced a syndicated loan with tighter margins than its existing facility, as lenders demonstrate unwavering appetite for Turkish debt.

Akbank raised a one year $560m-equivalent loan, priced at 200bp over Euribor and 225bp over Libor. To provide more flexibility for lenders in what are increasingly uncertain times, the facility includes an accordion option, allowing the final size of the loan to be increased up until April 9, ...

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