RENEWAL - Garanti BBVA Renews Sustainability-Themed Syndicated Loan from International Markets

Foreks - Garanti BBVA (BME:BBVA) has secured a 367-day syndication loan for the first time this year, aligned with its Sustainable Debt Financing Framework under its international borrowing program. The heavily demanded loan consists of two tranches: 244 million US dollars and 162.4 million euros, and was signed with the participation of 43 banks from 21 countries. The syndication loan achieved a 100% renewal rate, with a total cost of SOFR + 1.75% and Euribor + 1.5%.

Garanti BBVA's General Manager Mahmut Akten shared his views on the matter, stating, "As a pioneering bank in sustainable finance, we are delighted to add another source from international markets to our international borrowing program. We have successfully maintained the syndication loan structure indexed to sustainability criteria that we initiated in 2020, which was a first in the world. Our syndication agreement involves the use of transaction revenues in accordance with the financing standards for sustainable activities that we have defined with the BBVA group. Our syndication received strong demand both in terms of the number of participating banks and the amounts raised. This allows us to continue supporting our country's foreign trade transactions with resources obtained from international markets while providing financing for projects aimed at combating the climate crisis and promoting inclusive growth. As Garanti BBVA, we will continue to work to support sustainable development and contribute to the national economy with the strength of our reputation in international markets and our financial structure."