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Overview

Bank of China (Turkey) participates in TRY 500 million syndicated loan to Medical Park for CAPEX and hospital acquisitions

Commitments (Constant USD, 2023)$91,962,994
Commitment Year•2019Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeySector•HealthFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Sep 16, 2019

Stakeholders

Organizations involved in projects and activities supported by financial and in-kind transfers from Chinese government and state-owned entities

Ultimate beneficial owners

At least 25% host country ownership

Funding agencies

State-owned Commercial Banks

  • Bank of China (Turkey A.Ş.)

Cofinancing agencies

Private Sector

  • Albaraka Türk Katılım Bankası A.Ş
  • Isbank Pension Fund
  • Kuveyt Türk Katilim Bankasi A.S.
  • QNB Finansbank
  • Türkiye Garanti Bank BBVA

State-owned Banks

  • Halkbank
  • Türkiye Vakiflar Bankasi T.A.O. (VakıfBank)
  • Türkiye Ziraat Bankası A.Ş. (Ziraat Bank)

State-owned Commercial Banks

  • Industrial and Commercial Bank of China (ICBC)

Receiving agencies

Private Sector

  • Medical Park Hospital Group

Loan description

TRY 500 million syndicated loan to Medical Park

Interest type•Unknown

Narrative

Full Description

Project narrative

On 16 September 2019, Medical Park, a leading Turkish private hospital group, secured a TRY 500 million (~USD 87 million) syndicated term loan to fund capital expenditure and the acquisition of new hospital assets. The loan was arranged by ten Mandated Lead Arrangers: Industrial and Commercial Bank of China (ICBC), Albaraka Türk, Bank of China (Turkey), Garanti Bank, Halkbank, Isbank, Kuveyt Türk Bank, QNB Finansbank, Vakıfbank, and Ziraat Bankası. The syndicated loan was structured to support Medical Park’s growth strategy in Turkey’s private healthcare sector, including potential expansions in hospital capacity and network integration.

Staff comments

1. This record is based solely on an IJGlobal transaction summary. No supporting documentation could be located from Medical Park, ICBC, or other involved lenders. 2. Loan amount and lender contributions are assumed to be evenly distributed among ten Mandated Lead Arrangers.