Dubai – Mubasher: Turkey’s The Ziraat announced the conclusion of its $278 million and €706.50 million dual currency term loan facilities inked on 3 April 2017, according to a statement.
Bank of America Merrill Lynch and Emirates NBD Capital acted as joint coordinators, with the former bank acted as documentation agent and the later as publicity agent.
Mizuho Bank acted as facility agent for the facility, which refinances Ziraat’s previous syndicated loan facility signed on 31 March 2016.
European Bank for Reconstruction and Development has given€1 billion ($1.06 billion) to the Turkish agricultural sector so far since the beginning of the bank's operations in the country.
The transaction comprises of two 367-day facilities, denominated in US dollars and Euros, carrying an interest margin of 1.15 % and 1.05 % respectively per year.
