ICBC contributes to EUR 898 million syndicated loan tranche to Yapı Kredi for trade finance purposes in May 2018

Project narrative

On May 9, 2018, Yapı Kredi signed a $1.5 billion revolving credit facility agreement with 48 banks from 19 countries for general trade finance purposes, including financing export and import contracts. The joint coordinators of the transaction were ICBC, First Abu Dhabi Bank and Standard Chartered, with Mizuho Bank as the facility agent. The facility was divided into four tranches: a $332 million tranche that carried a 367-day maturity and an interest rate of LIBOR plus a 1.3% margin, an EUR 898 million tranche that carried a 367-day maturity and an interest rate of EURIBOR plus a 1.2% margin, a two-years-plus-one-business-day tranche worth $50 million that carried an interest rate of LIBOR plus a 2.1% margin, and a two-years-plus-one-business-day tranche worth EUR 25 million that carried an interest rate of EURIBOR plus a 1.5% margin.