TSKB SECURES USD 192M SYNDICATED LOAN

The Industrial Development Bank of Turkey (TSKB) has secured USD 192m syndicated loan with the participation of 14 banks from 11 different countries in Europe, America, Asia, and the Middle East. Thus, TSKB has secured its second sustainability-linked syndicated loan. “We secured a USD 150m syndicated loan last year before we broke new ground in sustainability by securing our ESG-linked (environmental, social, and corporate governance) loan in the second half of 2020,” said Ece Boru, General Manager of TSKB. The syndicated loan deal, consisting of two tranches of USD 55m and EUR 116m with a maturity of 367 days has a rollover ratio of 130%. The syndicated loan with an annual interest rate of 175 basis points was coordinated by the German-based Commerzbank AG while the France-based BNP Paribas and the UK-based Standard Chartered Bank jointly acted as sustainability coordinators.