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Overview

ICBC Turkey Yatırım contributes to EUR 284 million syndicated loan to Akbank for trade financing and debt refinancing purposes in April 2020 (Linked to Record ID#96121)

Commitments (Constant USD, 2023)$13,873,693
Commitment Year•2020Country of Activity•TurkeyDirect Recipient Country of Incorporation•TurkeyOverseas Jurisdiction•TurkeySector•Banking And Financial ServicesFlow Type•Loan

Status

Project lifecycle

Pipeline: Commitment

Pipeline: PledgePipeline: CommitmentImplementationCompletion

Timeline

Key dates

Commitment date
Apr 1, 2020
Last repayment (originally scheduled)
Apr 1, 2021

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

  • ICBC Turkey Yatırım Menkul Değerler A.Ş.

Cofinancing agencies

Private Sector

  • Attijariwafa Bank
  • Bank of New York Mellon Corporation (BNY Mellon)
  • BNP Paribas S.A.
  • BofA Securities, Inc. (Formerly Bank of America Merrill Lynch (BAML))
  • BPER Banca S.p.A. (formerly Banca Popolare dell'Emilia Romagna S.C.)
  • Citibank, N.A.
  • Commerzbank Aktiengesellschaft (Commerzbank AG)
  • Credit Suisse AG
  • DZ Bank AG
  • Erste Group Bank AG (Erste Group)
  • Filiale Luxemburg (Commerzbank)
  • Goldman Sachs Group, Inc.
  • Habib Bank Limited (HBL)
  • Intesa Sanpaolo S.P.A. (formerly Cariplo/Banca Intesa/BCI)
  • Mashreqbank PSC
  • Mizuho Bank, Ltd.
  • MUFG Bank, Ltd. (Formerly Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU))
  • Société Générale S.A. (SocGen or Societe Generale)
  • Standard Chartered Bank PLC
  • Sumitomo Mitsui Banking Corporation (SMBC)

State-owned Banks

  • Abu Dhabi Commercial Bank PJSC (ADCB)
  • Emirates NBD Bank P.J.S.C.
  • Zurich Cantonal Bank (Zürcher Kantonalbank (ZKB))

Receiving agencies

Private Sector

  • Akbank T.A.Ş.

Loan description

ICBC contribution to $246 million syndicated loan to Akbank for trade financing and debt refinancing purposes

Interest type•UnknownMaturity•1 years

Narrative

Full Description

Project narrative

In April 2020, Akbank T.A.Ş. — a privately-owned bank in Turkey — signed a $246,000,000 syndicated term loan facility agreement (captured in Record ID#96121) and an EUR 284,000,000 syndicated term loan facility agreement (captured here) 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.

Staff comments

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.