Dubai – Mubasher: Emirates NBD Capital Limited, a subsidiary of Dubai-listed Emirates NBD, has acted as a sole coordinator, documentation and publicity agent for an $854 million loan to Turkey’s Türkiye Vakıflar Bankası T.A.O., also known as VakifBank.
VakifBank concluded facilities worth $252 million and EUR 528.5 million, it said on Tuesday.
Emirates NBD also acted as the Agent Bank for this transaction.
“The facilities incorporate a US dollar 367-day term facility, a EUR 367-day term facility and a 2 year + 1 business day USD facility; these will primarily be utilised for Vakifbank trade finance and general corporate purposes,” the Turkish bank revealed.
In spite of ongoing domestic volatility, Vakifbank said that the loans had garnered “strong global response”, indicating that 20 banks across North America, Europe, Asia, and the Middle East had taken part in providing the mega-loans.
This is a “testament to Vakifbank's strong fundamentals and successes through volatile markets, as well as the resilience of the Turkish financial sector,” the bank highlighted.
Participating banks included 11 Mandated Lead Arrangers and 9 Arrangers.
