ICBC contributes to $246 million syndicated loan to Akbank for trade financing and debt refinancing purposes in April 2020 (linked to project #96122)
Commitment amount
$ 11447579.27447084
Adjusted commitment amount
$ 11447579.27
Constant 2021 USD
Summary
Funding agency [Type]
Industrial and Commercial Bank of China (ICBC) [State-owned Commercial Bank]
Recipient
Türkiye
Sector
Banking and financial services (Code: 240)
Flow type
Loan
Level of public liability
Private debt
Infrastructure
No
Category
Project lifecycle
Description
In April 2020, Akbank T.A.Ş. — a privately-owned bank in Turkey — signed a $246,000,000 syndicated term loan facility agreement (captured here) and an EUR 284,000,000 syndicated term loan facility agreement (captured in project #96122) with a group of 24 Chinese and non-Chinese banks for trade financing and debt refinancing purposes. Both loans carried 1-year maturities. Bookrunners and mandated lead arrangers on the Akbank deal include Abu Dhabi Commercial Bank, Bank of America Merrill Lynch, Citibank, Emirates NBD, ICBC Turkey Yatırım Menkul Değerler, Mizuho, Standard Chartered and Sumitomo Mitsui Banking Corporation. The lead arrangers are BNP Paribas, Commerzbank, Filiale Luxemburg, Intesa Sanpaolo, MUFG Bank, Société Générale. Meanwhile Attijariwafa Bank, Bank of New York Mellon, BPER Bank, Credit Suisse, DZ BANK, Erste Group, Goldman Sachs, Habib Bank, Mashreqbank and Zürcher Kantonalbank all participated as arrangers.
Additional details
1. The individual contributions of the banks that participated in the $246,000,000 syndicated loan are unknown. For the time being, AidData assumes equal contributions ($10,250,000) across all 24 members of the loan syndicate. 2. The individual contributions of the banks that participated in the EUR 284,000,000 syndicated loan are unknown. For the time being, AidData assumes equal contributions (EUR 11,833,333) across all 24 members of the loan syndicate.
Number of official sources
1
Number of total sources
2
Details
Cofinanced
Yes
Cofinancing agencies [Type]
Abu Dhabi Commercial Bank PJSC (ADCB) [State-owned Bank]
BofA Securities, Inc. (Formerly Bank of America Merrill Lynch (BAML)) [Private Sector]
Emirates NBD Bank PJSC [State-owned Bank]
Mizuho Bank [Private Sector]
Standard Chartered Bank PLC [Private Sector]
Sumitomo Mitsui Banking Corporation [Private Sector]
BNP Paribas S.A. [Private Sector]
Commerzbank AG [Private Sector]
Filiale Luxemburg (Commerzbank) [Private Sector]
MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU)) [Private Sector]
Société Générale S.A. (SocGen) [Private Sector]
Attijariwafa Bank [State-owned Bank]
Bank of New York Mellon Corporation (BNY Mellon) [Private Sector]
BPER Banca S.p.A. [Private Sector]
Credit Suisse [Private Sector]
DZ Bank AG [Private Sector]
Goldman Sachs Group, Inc. [Private Sector]
Habib Bank Limited (HBL) [Private Sector]
Mashreqbank PSC [Private Sector]
Zürcher Kantonalbank [State-owned Bank]
Intesa Sanpaolo S.P.A. [Private Sector]
Erste Group Bank AG (Erste Group) [Private Sector]
Citibank N.A. [Private Sector]
Direct receiving agencies [Type]
Akbank T.A.Ş. [Private Sector]
Loan Details
Maturity
1 years