BORUSAN RAISES USD 260M THROUGH SYNDICATED LOAN

Borusan Group has raised a syndicated loan of USD 260m issued by an international and domestic consortium held with the participation of 11 banks from 7 different regions . The loan consists of two tranches of USD 155m and EUR 87m and the consortium of banks is made up of HSBC Middle East Limited, with the participation of HSBC Bank AS, HSBC Middle East Limited, Garanti Bank, Industrial and Commercial Bank of China (ICBC), Isbank, Akbank, Yapi Kredi Bank, QNB Finansbank, Vakifbank, Odeabank and Alternatifbank,. The syndicated loan will be used to finance a variety of the group’s near-term plans, according to Erkan Kafadar, Group CEO of Borusan Holding..