Garanti BBVA Secures Syndicated Loan in Line with Its Sustainable Debt Financing Framework
Garanti BBVA Secures Syndicated Loan in Line with Its Sustainable Debt Financing Framework with Tranches of Various Maturities from International Markets
Garanti BBVA has signed a sustainability-themed syndicated loan agreement consisting of 1-year, 2-year, and 3-year tranches as part of its international borrowing program. The transaction, which attracted strong demand from global investors, also included a new three-year tranche.
The total amount was announced as USD 97,750,000 and EUR 61,000,000 for the 367-day tranches, USD 157,000,000 and EUR 28,000,000 for the 736-day tranches, and USD 75,000,000 for the 1,103-day tranche.
The total cost of the bank’s 367-day tranches was SOFR + 1.50% for USD and Euribor + 1.25% for EUR. For the 736-day tranche, the total cost was SOFR + 1.90% for USD and Euribor + 1.65% for EUR. The total cost of the 1,103-day tranche was SOFR + 2.15% for USD. A total of 49 financial institutions from 22 countries participated in the transaction.
Garanti BBVA CEO Mahmut Akten commented on the transaction:
"The strong interest shown in the syndicated loan we executed in December once again reaffirms the confidence international investors have in Garanti BBVA and in our country. The introduction of three-year tranches by many banks in the sector this year, along with the allocations provided by participating financial institutions, has been one of the most concrete indicators of this trust. Through this sustainability-focused structure, we will continue to contribute to the financing of foreign trade in the real sector while supporting projects that create positive environmental and social impact. With Garanti BBVA’s strong position in international markets and its sustainable finance vision, we will continue to generate long-term value for our country’s economy."
As in the June transaction, the loan will be utilized under Garanti BBVA’s sustainable debt financing framework. Through this structure, the bank will continue contributing to the financing of projects that generate positive environmental and social impact.