Turkey’s Ziraat Becomes Country’s Top Borrower as Costs Fall
- Turkey’s Ziraat Bank gets record $1.7 billion syndicated loan
- Loans for sustainable agriculture and foreign trade financing
A branch of TC Ziraat Bankasi AS in Istanbul.
Photographer: Nicole Tung/BloombergThis article is for subscribers only.
State-run TC Ziraat Bankasi AS, Turkey’s largest lender by assets, has secured a one-year sustainability-linked syndicated loan of $1.7 billion, a record amount with the widest participation for any Turkish bank.
With the new facility, consisting of $742 million and 884 million euros, Ziraat renewed its previous loan of $1.29 billion with a 132% roll-over ratio, Chief Executive Officer Alpaslan Cakar said in a statement. The loan came from 70 lenders from 32 countries, it said.