DENIZBANK INJECTS USD 410M INTO THE ECONOMY

Denizbank has secured a syndicated loan of USD 410m, according to Hakan Ates, President and CEO. The 1-year loan was denominated in USD, EUR and CNY. This has been the first syndicated loan secured by a Turkish bank in CNY. The loan will be used to finance foreign trade transactions of its customers, including tourism, shipping, manufacturing and agriculture for exports. The transaction was coordinated by Abu Dhabi Commercial Bank PJSC, Emirates NBD Capital Limited and Industrial and Commercial Bank of China (ICBC) Turkey Bank AS while Emirates NBD Bank PJSC acted as the Facility Agent. Following the transaction, the size of Denizbank’s syndicated loans has reached USD 1.3bn.