Headline: Akbank Reopens 2-Year Syndication Market to Strong Demand

Akbank announced the reopening of the two-year syndicated loan market, providing a $750 million boost to the Turkish economy with its renewed facility. The loan, featuring maturities of 367 and 734 days, was priced at SOFR+1.75% and Euribor+1.50% for the 367-day tranche. For the first time in six years, a two-year tranche was included, with costs of SOFR+2.25% and Euribor+2.00%. The transaction attracted 46 banks from 21 countries, including 11 new participants.

CEO Kaan Gür expressed pride in this transaction, emphasizing the trust in Akbank and the Turkish economy. He stated, "We received demand exceeding $1 billion, renewing our facility at $750 million, representing a 124% renewal ratio. We are grateful to all investors and correspondent banks involved."

Levent Çelebioğlu, Deputy General Manager of Corporate and Investment Banking, highlighted that despite record demand, the credit was limited to $750 million under Akbank's Sustainable Financing Framework. He noted the significance of including a 734-day tranche after six years, thanks to Akbank's robust correspondent network, and pledged to continue pioneering efforts in the sector.