Akbank secures loan at competitive rates despite crisis

AdobeStock_Akbank_575x375_30June2020
By Mariam Meskin
16 Oct 2020

Turkey’s Akbank has raised a $700m one year syndicated loan. The deal was priced at 250bp over Libor and 225bp Euribor.

Participating in the deal were 34 international lenders from 19 countries

The borrower raised a $605m syndicated loan from international lenders in April. That deal was priced tighter at 225bp over Libor and 200bp over Euribor.

Turkey has had a tumultuous few months, with the Turkish lira this week depreciated ...

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