Garanti BBVA Successfully Renewed Its Syndicated Loan with 100% Roll-Over
Garanti BBVA Successfully Renewed Its Syndicated Loan with 100% Roll-Over
Garanti BBVA has provided over USD 440 million in support to the Turkish economy through the renewal of its syndicated loan.
Within the scope of its international borrowing program, Garanti BBVA secured a syndicated loan structured in line with its Sustainable Finance Framework, consisting of four tranches with maturities of 367 days and 734 days. Due to strong demand in the June syndication transaction, in addition to two tranches with a 367-day maturity, two new tranches with a 734-day maturity were also launched.
In addition to the 367-day tranches amounting to USD 95,750,000 and EUR 99,275,000, the bank also secured 734-day tranches totaling USD 191,500,000 and EUR 36,000,000. The total cost of the 367-day tranches was SOFR + 1.60% and Euribor + 1.35% for USD and EUR respectively, while the cost for the 734-day tranches was SOFR + 2.00% and Euribor + 1.75%.
This successful transaction, completed on June 3, 2025, and aligned with the sustainable finance framework, saw participation from 43 banks across 20 countries.
Garanti BBVA CEO Mahmut Akten made the following statement:
“We are pleased to have secured a new source of funding from international markets and to have completed this transaction successfully. The strong demand for our syndicated loan reflects the solid confidence international investors have in Garanti BBVA and in our country. With this sustainability-based loan agreement, we are contributing to the foreign trade financing of the real sector while also continuing to provide long-term support to the national economy. As a pioneer in sustainable finance, we foresaw the critical role of the financial sector in this transformation years ago and have integrated sustainability into our core business strategy. I am proud to state that, as of April, we have reached our goal of providing at least TRY 400 billion in sustainable financing for the period between 2018 and 2025. We continue to successfully implement the sustainability-linked syndicated loan structure we launched as a global first in 2020. Our June transaction received strong demand, both in terms of the number of participating banks and the total amount raised. The funds obtained will be used in areas aligned with the sustainability principles jointly defined with the BBVA Group. In this way, we are not only providing financing for foreign trade transactions but also supporting projects that contribute to climate change mitigation and inclusive growth. As Garanti BBVA, we will continue to add value to our country’s development with our international market strength and sustainability vision.”