Vakıfbank secured a syndicated loan

VakıfBank secured a syndicated loan of 222.5 million USD and 328 million EUR, totaling 560.3 million USD, with the participation of 21 banks from 16 countries. The rollover rate in the syndication was 91 percent. Thus, Vakıfbank’s syndication became the syndicate with the highest rollover rate in recent times. The banking sector’s syndicated agreements continued with Vakıfbank. Vakıfbank secured a syndicated loan of 222.5 million USD and 328 million EUR, totaling 560.3 million USD, with the participation of 21 banks from 16 countries. The dollar cost of the loan with a maturity of 367 days was SOFR + 4.25 percent, and the euro cost was Euribor + 4 percent. Vakıfbank General Manager Abdi Serdar Üstünsalih made the following statements regarding the syndication: The second transaction of the year also includes two different sustainability performance criteria. As a pioneering and innovative bank in this field, we continue our sustainability approach, which has permeated all our processes, in the field of sustainable finance. As an indicator of our commitments regarding environmental and social risks, we have determined the minimization of plastic use in all our bank locations through water purification systems to be put into operation in our branches, and in addition, the reduction of our total greenhouse gas emissions by 2 percent annually as the performance criteria of our syndicated loan.