Garanti BBVA Secures Syndicated Loan from International Markets
Garanti BBVA has finalized a syndicated loan as part of its international funding program. The transaction focuses on sustainability and includes one-year (€61 million / $97.75 million), two-year (€28 million plus $157 million) and three-year $75 million) tranches. It attracted strong interest from global investors, with 49 financial institutions from 22 countries participating.
The cost of Garanti BBVA’s 367-day tranche was SOFR + 1.50 percent for US dollars and Euribor + 1.25 percent for euros. For the 736-day tranche, the cost was SOFR + 1.90 percent for US dollars and Euribor + 1.65 percent for euros, and the total cost of the 1,103-day tranche was SOFR + 2.15 percent for US dollars.
Garanti BBVA CEO Mahmut Akten emphasized the confidence demonstrated by international investors, underscoring that the inclusion of a three-year tranche was a clear expression of this trust. He also explained that the funding will be used for Garanti BBVA’s sustainable debt financing framework to continue supporting initiatives with a positive environmental and social impact. “With Garanti BBVA’s strong position in international markets and its sustainable finance vision, we will continue to generate long-term value for our country’s economy," the CEO concluded.