Turkey Wealth Fund receives $1.48 bln syndication loan

ANKARA- Anadolu Agency

The Turkey Wealth Fund on March 24 announced it has finalized a syndication loan transaction amounting to €1.25 billion ($1.48 billion) with the participation of 14 banks from countries from Asia, Europe, North America, and the Middle East.

According to a statement by the fund, a syndicated loan of €1 billion used in March 2019 was renewed, with four new banks joining the syndication.

The annual pricing of the two-year loan was 25 basis points below the cost incurred in 2019, and was realized as Euribor +2.25%, it said.

Under the joint coordination of ICBC and Citi, ICBC was the lead bookrunner, Citi was the bookrunner and documentation representative, and HSBC was the credit representative.

Banking Corporation, Emirates NBD, HSBC, ING, Intesa Sanpaolo, JP Morgan, Qatar National Bank, and Sumitomo Mitsui Banking Corporation joined the syndication as mandated lead arrangers with Banco Bilbao Vizcaya Argentaria, Bank of America, Barclays, and Societe Generale involved at the lead arranger level.