DenizBank Sets a Record with $2.3 Billion Funding through Three Syndications in 2024

Forex - In a prestigious transaction coordinated by Bank of America, Emirates NBD Capital Limited, and Mashreqbank PSC, Emirates NBD Capital, First Abu Dhabi Bank PJSC, Mashreqbank PSC, and SMBC Group served as ESG (Environmental, Social, and Governance) Coordinators, while Mizuho Bank contributed as the arranger.

The total cost of the loan was set at Sofr + 1.75% and Euribor + 1.50% for a 1-year term, and Sofr + 2.25% and Euribor + 2.00% for a 2-year term.

DenizBank General Manager Hakan Ateş emphasized the significance of the transaction with the following words: "This syndication is not just a financial success but also a very strong step towards Turkey’s transition to a low-carbon economy. In this transaction, participated by 54 financial institutions, 14 of which are new, we take responsibility for the continuity of agricultural production; we aim to increase our Producer Card turnover, the largest financial innovation in agriculture used by nearly 600,000 farmers today, by over 60% as our sustainability performance criterion. Additionally, we are committed to increasing our support for the financing of green transformation technologies that contribute to the efficient use of resources and the minimization of environmental impacts. As DenizBank, while providing $4.5 billion in fresh resources to our economy over the past two years, we have raised our volume in sustainability-linked loans to $3 billion. As in the past, we will continue to allocate our financial strength to support producers and sustainability-focused technologies in the upcoming period."