Garanti BBVA renews its sustainable syndicated loan in international markets
For the first time this year, Garanti BBVA has secured a syndicated loan aligned with the Sustainable Debt Financing Framework. The loan is part of the bank’s international borrowing program and has a maturity of 367 days. The loan consists of two tranches, $244 million, and €162.4 million, with 43 banks participating. The loan was fully renewed, with costs set at SOFR + 1.75 percent, and Euribor +1.5 percent, respectively.
Garanti BBVA CEO Mahmut Akten pointed to the bank’s pioneering role in sustainable finance, recalling that Garanti BBVA was the first bank to launch a syndicated loan linked to sustainability criteria. He also expressed how pleased they were to renew the syndicated loan in international markets with such high demand - both in terms of the number of participating banks and the amount of participation.
The CEO stressed the bank’s commitment to continue financing projects that aim to combat climate change and support inclusive growth, adding: “We will continue to work to support sustainable development and contribute to the national economy with our reputation in international markets and the strength of our financial structure.”