Two banks receive financing from abroad
Bloomberg
Akbank, Turkey’s biggest bank by market value, said it got syndicated loans worth $600 million from foreign banks. The loans carry an interest rate of 2 percentage points above Libor, Akbank said in an e-mailed statement Friday.Vakıfbank, a state-run Turkish bank, got a $335 million one-year syndicated loan from 12 international banks.
Interest rate
The loan, in dollars and euros, has an interest rate of 2 percentage points more than benchmark U.S. and European rates, the Ankara-based lender said in an e-mailed statement Friday. Vakıfbank said WestLB, Germany’s third-biggest state-owned bank, coordinated the loan.
