On 20 April 2011, Yapı Kredi successfully signed a 1 year Dual Tranche Multi-Currency Term-Loan Facility amounting to ~US$ 1,450 million as a replacement of the US$ 1 billion syndication loan that was signed in April 2010. The club loan facility, raised by a syndicate of 47 of Yapı Kredi’s key relationship banks representing 19 countries, is comprised of a US Dollar tranche of US$ 300.5 million and a Euro tranche of € 795 million. The all-in cost improved to Libor/Euribor plus 1.10% per annum in April 2011 compared to Libor/Euribor plus 1.50% per annum in April 2010. The proceeds of the loan will be used by the Bank to pre-finance customer exports and export contracts.
With this new loan facility, which is the highest syndication amount in the Turkish banking sector as of the date of this transaction, 145% oversubscription is achieved, confirming the leading role of Yapı Kredi in the banking sector with sustained strong performance and solid banking relationships.
Standard Chartered Bank acted as Coordinating Bank and Facility Agent.
Istanbul, 20 April 2011
Enquiries:
Yapı Kredi Investor Relations
Tel: (90) (212) 339 7647
Email: yapikredi_investorrelations@yapikredi.com.tr
Yapı Kredi / 20 Apr 2011