Garanti BBVA Secures Its First Thematic Syndicated Loan Under the Just Transition Theme
Garanti BBVA has renewed its syndicated loan under its foreign funding program in line with its Sustainable Debt Financing Framework. The transaction includes sustainability-themed tranches designed to support a clean and just transition in Türkiye, making it the bank’s first thematic syndicated loan.
The facility comprises two 367-day tranches totaling $32.5 million and €23.5 million, two tranches with a maturity of 24 months and two business days amounting to $105.25 million and €40 million, and two tranches featuring a maturity of 36 months and two business days totaling $87.5 million and €2 million.
The 367-day tranches were priced at SOFR + 1.25% for USD and Euribor + 1.10% for EUR. The 24-month tranches were priced at SOFR + 1.75% and Euribor + 1.60%, while the 36-month tranches were priced at SOFR + 2.00% and Euribor + 1.80%.
The transaction was executed on June 10, 2026 and involved 32 banks across 15 countries, signaling strong international investor confidence in Garanti BBVA and its sustainability-focused funding strategy.
The proceeds will be allocated in accordance with the bank’s Sustainable Debt Financing Framework to eligible projects that deliver environmental and social benefits, with a focus on supporting a just transition. These initiatives are intended to help champion a low-carbon economy while promoting inclusive economic opportunities and positive outcomes for affected communities.
Commenting on the transaction, Garanti BBVA CEO Mahmut Akten said:
“Through this transaction in the international markets, we have once again showcased the trust placed in Garanti BBVA and our financial strength. Amid ongoing global market uncertainty, the funding secured across multiple maturities and currencies further strengthens our funding base and enhances our ability to continue supporting our clients.”
“This transaction is particularly significant as it marks our first thematic syndicated loan. Sustainable finance is a core pillar of our business model, and we believe this funding will contribute to our sustainable finance objectives while supporting a fair and inclusive transition to a low-carbon economy. We are confident it will further strengthen our support for the Turkish economy and the real sector.”
Since 2020, Garanti BBVA has incorporated sustainability criteria into its syndicated loan structure, as a further show of its firm commitment to sustainable finance and long-term economic development. The strong demand for this transaction reflects continued confidence in the bank’s sustainability strategy and its role in supporting a more sustainable and inclusive economy.