According to the statement made by TVF, the maturity of a total of 837 million euros and 285 million dollars of union loans provided with the participation of 20 banks from 12 countries was determined as two years.
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With this process, which was successfully completed for the first time without the “Treasury Guarantee”, the trust in the Turkish economy in international markets was once again registered. In previous years, the treasury guarantee structure in the syndication loans was removed with this loan. The total costs of the union loan were determined as an annual Euribor + 2 percent for the euro tranche and the annual table + for the dollar tranche was 2.25 percent. The loan transaction received intense interest from investors and received more than twice the demand for the debt amount in 2023. In response to the increasing interest in investor, the dollar tranche was added for the first time in this year’s syndication loan.
Great interest from international investors
The process, which was previously structured in 2019 and 2023, such as syndicated loans, reached a total of 1.1 billion euros in two separate slices. The new loan provided by TVF was realized with a renewal rate of 139 percent compared to the completed union loan of 2023.
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TVF’s Eurobond export and the sukuk process in October attracted great attention from international investors. The final process confirmed the trust of international financial institutions to TVF once again. The number of banks participating in the loan increased and 11 new banks from 4 new countries have been included in the process and rose to 20 in total.
During the financing process, ICBC Türkiye Yatırım Menkul Değerler AŞ, Emirates NBD Capital Limited and First Abu Dhabi Bank PJSC coordinator and leader demand collector, while Emirates NBD Bank PJSC documentation and credit representative roles.
