Yapi ve Kredi Bankasi : Dual Currency Term Loan Facilities
May 09, 2018 at 02:41 pm IST
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On 9 May 2018, Yapı Kredi successfully signed a syndicated loan agreement comprised of a 367 day and a 2 year 1 business day tranche totalling US$ 1.5 billion. The syndication is secured through four different tranches; US$ 332 million and Euro 898 million at 367 day maturity and US$ 50 million and Euro 25 million at 2 year 1 day maturity. This syndication is the successful refinancing of Yapı Kredi's existing syndication loan signed on 4 May 2017 with a 111% roll-over ratio following the scale-back.
The Dual Currency Term Loan Facility has been raised by a syndicate including 48 of Yapı Kredi's key relationship banks from 19 countries. The all-in cost was realised at Libor + 130 bps and Euribor + 120 bps for the 367 day tranche and Libor + 210 bps and Euribor + 150 bps for the 2 year and 1 business day tranche. The loan is intended to be used for trade finance activities and general corporate purposes.
Yapi ve Kredi Bankasi AS published this content on 09 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 09 May 2018 09:10:03 UTC
Yapi ve Kredi Bankasi AS (the Bank) is a Turkey-based company that provides banking products and services. It operates through the following segments: Retail Banking, which offers card payment systems, consumer loans, commercial installment loans, small medium size enterprises (SME) loans, time and demand deposits, gold banking, investment accounts, life and non-life insurance products as well as payroll services; Corporate and Commercial Banking, which offers working capital finance, trade finance, project finance, domestic and international non-cash loans such as letters of credit and letters of guarantee, cash management and internet banking, as well as Private Banking and Wealth Management, which serves high net worth customers. The Bankâs operations are supported by domestic subsidiaries in asset management, brokerage, leasing and factoring as well as international banking subsidiaries in the Netherlands, Russia, Malta and Azerbaijan.