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Turkey Wealth Fund receives EUR 1 billion syndication loan

Turkey Wealth Fund successfully completed the first syndication loan transaction amounting to EUR 1 billion with the participation of 10 banks from eight countries from Asia, Europe, North America and the Middle East under the coordination of ICBC and Citi.

The total annual cost of the syndicated loan, which was provided in Euro denomination with a two-year term, was Euribor + 2.75%. Under the Joint Coordination of ICBC and Citi, ICBC was the lead bookrunner, Citi was the bookrunner and documentation representative, while HSBC was the credit representative. HSBC, ING, Intesa Sanpaolo, J.P. Morgan and Sumitomo Mitsui Banking Corporation joined the syndication as mandated lead arrangers with Bank of America Merrill Lynch, Emirates NBD and Société Générale involved at the Lead Arranger level. 

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