ING Turkey has secured a EUR 300m syndicated loan consisting of USD 37m and EUR 269m with the participation of 22 banks from 11 countries, marking the bank’s first sustainability-linked transaction. The loan will be used to finance foreign trade. “We prioritize economic, environmental and social sustainability with our business model built on sustainability and responsible banking and we consider sustainability as an understanding directing our business approach,” said Alper Gokgoz, General Manager of ING Turkey. The total cost of the 367-day maturity loan will be LIBOR (London Interbank Offering Rate) + 2.50% for the USD part and EURIBOR (Euro Interbank Offering Rate) + 2.25% for the EUR part.
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