Turkey’s state-run lender applies to borrow up to $4 billion

ANKARA

Turkey’s state-run Ziraat Bank has applied to the Capital Markets Board (SPK) to issue debt instruments of up to $4 billion abroad, an SPK bulletin stated on Dec. 28.

Of all eight loan applications, only Ziraat Bank’s application was based on the U.S. dollar, however, Deniz Faktoring, IC İçtas Enerji Yatırım Holding, Başer Faktoring, KT Sukuk Varlık Kiralama, İş Investment Securities, Turknet Communication Services and Şeker Faktoring will borrow in liras as “the otherwise was not mentioned” in their requests. 

“Those who have applied to the SPK for issuing debt instruments are estimated to borrow between 95 million and 2.5 billion liras,” the bulletin said.