İşbank secures a sustainable syndicated loan of USD 1.3 billion

İşbank has signed a sustainable syndicated loan deal with 367 days maturity worth USD 751 million and EUR 513.5 million.

A total of 54 banks from 21 countries in the Americas, Europe, the Middle East and Asia participated in the loan, marking a further interest compared to the last year., The proceeds will be used to finance activities aimed at achieving positive environmental and/or social impact, in line with İşbank's Sustainable Finance Framework.

The all-in cost of the syndicated loan for the highest participating ticket size is SOFR + 1.60% for the USD tranche and Euribor + 1.35% for the Euro tranche.

Emirates NBD Capital Limited, Abu Dhabi Commercial Bank PJSC, Mizuho Bank and Standard Chartered Bank acted as coordinating banks, First Abu Dhabi Bank PJSC and ING Bank NV 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 will make significant contributions to the Bank's sustainability-oriented strategies and support to the real sector, İşbank CEO Hakan Aran said, "In an environment where uncertainties in global markets and foreign trade prevail, 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 by 123%.  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 effectin 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 with our climate strategy, which we have created with realistic, ambitious and feasible steps, and the concrete roadmaps we have created for specific sectors."