TSKB obtains USD220mn Syndication Loan

3 July 2018
- 2 min Read

The Industrial Development Bank of Turkey (TSKB) obtained a syndication loan worth USD 220 million with the participation of a total of 15 banks representing 11 countries.

Türkiye Sınai Kalkınma Bankası A.Ş. (TSKB) obtained a syndication loan of USD 220 million from 15 international banks. The syndicated loan agreement was concluded on June 3 at a ceremony attended by the representatives of the participating banks.

The syndication loan agreement has been signed under the participation of 15 banks in total from 11 countries; CITI, Commerzbank Aktiengesellschaft Filiale Luxemburg, ING Wholesale Banking, Societe Generale, Standard Chartered Bank, Unicredit Bank AG, BayernLB, Sumitomo Mitsui Banking Corporation, Credit Suisse (Switzerland) Ltd., J.P. Morgan Securities plc, Raiffeisen Bank International AG, Intesa Sanpaolo S.p.A., London Branch, Banka Kombëtare Tregtare Sh.a., DZ Bank AG Deutsche Zentral-Genossenschaftsbank and Frankfurt am Main and Mashreqbank.

The cost of the syndication loan extended at a maturity of 367 days stood at Euribor / Libor + 1.45%.

Commenting on the syndicated loan, the CEO of TSKB, Suat İnce, said, "At TSKB, we continue to unwaveringly deliver banking operations at full pace for the development, both for our country’s industry and its economy. TSKB's strong and reliable image in international markets significantly fosters our operations. The syndication loan we obtained and the relevant participation profile stands as an indicator of our reputation and confidence in Turkey. We are delighted to have once again obtained a syndication loan with the participation of such leading prestigious banks from various countries, as we have in previous years. We will be using the funds obtained to continue extending support to the development of our country."