Garanti BBVA secures its first thematic syndicated loan to support Türkiye’s just transition
Garanti BBVA secures its first thematic syndicated loan to support Türkiye’s just transition
Garanti BBVA renews its syndicated loan, including sustainabilitythemed tranches intended to support a clean and just transition in Türkiye, marking the bank’s first thematic syndicated loan.
Garanti BBVA has successfully arranged a syndicated loan under its foreign funding programme, in alignment with its Sustainable Debt Financing Framework. The two- and three-year tranches of the facility are intended to support the delivery of a clean and just transition in Türkiye.
The facility comprises two 367-day tranches totalling $32,500,000 and €23,500,000, two tranches with a maturity of 24 months and two business days amounting to $105,250,000 and €40,000,000, and two tranches with a maturity of 36 months and two business days totalling $87,500,000 and €2,000,000. All in cost for the 367-day tranches priced at SOFR + 1.25% for USD and Euribor + 1.10% for EUR.
All in cost for the 24 months and two business days tranches priced at SOFR + 1.75% and Euribor + 1.60%, while the 36 months and two business days tranches were priced at SOFR + 2.00% and Euribor + 1.80%.
Executed on June 10, 2026, the transaction attracted participation from 32 banks across 15 countries, underlining strong international investor confidence in Garanti BBVA’s sustainability-driven financing approach and this landmark thematic syndicated loan.
Eligible sustainability projects are defined in line with the Sustainable Debt Finance Framework’s eligibility criteria and support environmental or social objectives, with a primary focus on achieving a just transition. Just transition projects refer to green initiatives that not only deliver environmental benefits but also ensure positive social co-benefits for targeted populations. These projects aim to promote a fair and inclusive transition to a low-carbon economy, particularly for communities who may be disproportionately affected by the economic and social impact of such changes. This might include, for example, supporting employment, social inclusion, skills development, equitable economic opportunities and access to such clean technologies, alongside climate objectives.
Commenting on the transaction, Garanti BBVA CEO Mahmut Akten said: “Through this transaction in the international markets, we have once again demonstrated the confidence placed in Garanti BBVA and the strength of our financial position. Amid ongoing global market uncertainty, the funding secured across multiple maturities and currencies further strengthens our funding base and enhances our ability to continue supporting our customers. This transaction is particularly significant as it marks our bank’s first thematic syndicated loan. Sustainable finance is a core pillar of our business model, and we believe this funding will contribute to our sustainable finance objectives while supporting a fair and inclusive transition to a low-carbon economy. We are confident that it will further strengthen our support for the Turkish economy and the real sector.
Garanti BBVA continues to demonstrate leadership in sustainable finance, having embedded sustainability into its core business strategy and maintaining its innovative structure of syndicated loans linked to sustainability criteria since 2020.
The strong participation and demand for this transaction underlines confidence in the Garanti BBVA’s sustainability-focused approach. With its strong international relationships and forward-looking sustainability vision, Garanti BBVA remains committed to supporting longterm economic development and the transition to a more sustainable and inclusive economy.