İşbank secures a sustainable syndicated loan of USD 1.2 billion

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İşbank has signed a sustainable syndicated loan deal with 371 days maturity worth USD 800.5 million and EUR 331.1 million.

A total of 54 banks from 23 countries in Europe, Middle East, Asia and US participated in the loan. The proceeds of the loan will be used to finance activities aimed at achieving positive environmental and/or social impact, in line with İşbank's Sustainable Financing Framework.

The all-in cost of the syndicated loan for the highest participating ticket size is SOFR + 1.50% for the USD tranche and Euribor + 1.25% for the EUR tranche.

Emirates NBD Capital Limited, Abu Dhabi Commercial Bank PJSC, Bank of America Europe DAC and Standard Chartered Bank acted as coordinating banks, while SMBC Bank International plc and ING Bank N.V. acted as sustainability coordinators and Emirates NBD Bank (P.J.S.C) acted as agent bank for the loan agreement. 

"We have confirmed the confidence in both our Bank and our country's economy"

Stating that this financing would make significant contributions to the Bank's sustainability-oriented strategies and support to the real sector, İşbank CEO Hakan Aran said, "We have once again confirmed the confidence in both our Bank and our country's economy by renewing the loan we obtained during the same period last year at an amount of USD 1.2 billion. This loan supports our Bank's multidimensional efforts in line with its sustainable development goals. While supporting sustainable economic growth through the effective use of resources, we will also contribute to the implementation of the Climate Transformation Plan, which we have put into effect in line with our net zero targets. Using the transformative power of finance, we will continue to diversify our green financing solutions for our clients to achieve the reduction targets we have set in emission-intensive sectors and accelerate sectoral transition. We will continue to lead the real sector's climate transition process and stand by our clients through our climate strategy, which we have created with realistic, ambitious and feasible steps, and the concrete roadmaps we have set for specific sectors."