Garanti BBVA renews its sustainability-linked syndicated loan

Garanti BBVA has secured a syndicated loan as part of its foreign funding program and in accordance with its Sustainable Debt Financing Framework. The loan features four tranches with maturities of 367 and 734 days. Two new 734-day tranches were opened amid strong demand for the June syndication, thus joining the two existing 367-day tranches.

Aside from the two 367-day tranches worth $95,750,000 and €99,275,000, the bank also secured two 734-day tranches amounting to $191,500,000 and €36,000,000.

The total cost of the 367-day tranches was SOFR + 1.60% for the USD tranche and Euribor + 1.35% for the EUR tranche. For the 734-day tranches, the cost was SOFR + 2.00% and Euribor + 1.75%, respectively.

This successful transaction—fully aligned with the bank’s sustainable debt financing framework—was signed on June 3, 2025, involving 43 banks from 20 countries.

In the words of Garanti BBVA’s CEO, Mahmut Akten: “We are delighted to have secured a new source of funding from international markets and to have completed this transaction successfully. The strong demand for our syndication is a powerful sign of the trust that international investors place in Garanti BBVA and in our country. With this loan agreement grounded in sustainability, we are contributing to the foreign trade financing of the real economy while continuing to provide long-term support to the national economy.”

As a pioneering figure in sustainable finance, the BBVA Turkish unit was quick to spot the financial industry’s central role in this transformation years back and moved swiftly to integrate sustainability into its core business strategy. As of April 2025, it had achieved its objective of delivering at least TL 400 billion in sustainable finance between 2018 and 2025.

It has continued to successfully implement its structure of syndicated loans pegged to sustainability criteria, which it launched in 2020. The June transaction attracted strong demand in terms of both the number of participating banks and the amount of funds secured.
The proceeds will be allocated to areas aligned with the sustainability principles it has defined alongside the BBVA Group.
In doing so, Garanti BBVA is helping to fund not only foreign trade but also projects that contribute to climate crisis mitigation and inclusive growth goals. The bank will continue to support the nation’s growth thanks to its strength in international markets and its foresight and vision when it comes to sustainability.