ICBC Turkey Securities secured the participation of ICBC Dubai and ICBC Kuwait in Akbank’s US$600 million Sustainable Syndicated Loan in May 2024, with its role as Mandated Lead Arranger.
Through its sustainable syndicated loan, Akbank has provided USD 600 million in support of the Turkish economy in April 2024. The syndicated loan, was structured as a sustainability loan under the Sustainable Finance Framework of the Bank. 45 banks from 20 countries participated in the facility, with 16 new participating banks. The loan was structured as a “use of proceeds” loan that was allocated according to the Akbank’s Sustainable Finance Framework. The bank has renewed the syndication with USD 600 million and 120% roll-over ratio. In this transaction, ICBC Turkey Securities, in its role as Mandated Lead Arranger, coordinated ICBC Dubai and ICBC Kuwait Branches and ensured their joint participation in the syndication.