Akbank T.A.Ş signs $1.2 Billion equiv. Multicurrency & Dual Tranche Syndicated Term Loan Facilities on March 22, 2017

2 Min | 27 March 2017

Akbank, the most valuable banking brand of Turkey according to Brand Finance, is pleased to announce the successful conclusion of its US$ 404,512,884 & € 738,271,106 Dual Currency Term Loan Facilities signed on 22 March 2017.

27 March 2017: Akbank, the most valuable banking brand of Turkey according to Brand Finance, is pleased to announce the successful conclusion of its US$ 404,512,884 & € 738,271,106 Dual Currency Term Loan Facilities signed on 22 March 2017.

The Facilities incorporate a USD 367 day term facility, a EUR 367 day term facility and a 2 year + 1 business day USD facility; these will primarily be utilized for Akbank’s trade finance and general corporate purposes.

The all-in cost of the 367-day facilities is LIBOR + 1.45% p.a. for USD commitments and EURIBOR + 1.35% p.a. for EUR commitments; and the all-in cost of the 2-year + 1 business day facility is LIBOR + 2.20% p.a..

Despite the domestic volatility, the Facilities achieved a strong global response with the participation of 38 international banks across North America, Western Europe, Asia and the Middle East which is a testament to Akbank's strong fundamentals and successes through volatile markets, as well as the resilience of the Turkish financial sector.

Bank of America Merrill Lynch, Emirates NBD Capital Limited, and ICBC Turkey Yatırım Menkul Değerler A.Ş acted as Joint Coordinators & Bookrunners on the transaction. Bank of America Merrill Lynch also acted as Documentation Agent, Emirates NBD Capital Limited acted as Publicity Agent and Mizuho Bank acted as Facility Agent.

Participating banks included 19 Bookrunning Mandated Lead Arrangers, 3 Lead Arrangers and 16 Arrangers.

Banks

Bookrunners & Mandated Lead Arrangers:

Abu Dhabi Commercial Bank, The Arab Investment Company, Bank of America Merrill Lynch, The Bank of Tokyo-Mitsubishi UFJ, BNP Paribas, China Development Bank Corporation, Citibank, Commerzbank, Deutsche Bank, Emirates NBD Capital Limited, HSBC, Industrial and Commercial Bank of China, ING, J.P.Morgan, Mizuho Bank, Natixis, Societe Generale, Standard Chartered Bank, and Sumitomo Mitsui Banking Corporation.

Lead Arrangers:

The Bank of New York Mellon, Banca UBAE, and Wells Fargo Bank.

Arrangers:

Axis Bank, Banca popolare dell’Emilia Romagna (Europe) International, Banco de Sabadell, CaixaBank, CoBank, Credit Suisse, DZ BANK AG, Goldman Sachs, Habib Bank Limited, Intesa Sanpaolo, KfW IPEX-Bank, Mashreq Bank, Raiffeisen Bank International AG, UBI Banca, Union De Banques Arabes Et Francaises, and Zürcher Kantonalbank.

About Akbank

Akbank – the most valuable banking brand of Turkey according to UK based Brand Finance – is one of the leading banks in Turkey with over USD 84 billion consolidated assets as of 2016YE. Incorporated in 1948, the bank is 48.9% owned by H.Ö. Sabancı Holding, affiliated Institutions and Individuals, and 51.1% free float as at March 2017.

Akbank continues to provide unrivalled financial solutions to its customers leveraging its robust capital, diversified funding base, strong liquidity, ability to raise foreign financing on favorable terms and superior asset quality together with its non-banking subsidiaries Ak Asset Management, Ak Investment and Ak Lease.

The bank serves its over 15 million consumer and corporate clients with a strong and extensive distribution network that utilizes both traditional and digital channels through:

~ 14,000 employees
~ 850 branches
Consumer and Corporate Internet Banking
~ 4,200 ATMs
~ 465,000 POS terminals

Akbank’s robust performance and outstanding position in the Turkish banking sector have been recognized by prominent awards in the last 3 years:

Brand Finance - 2016:
The Most Valuable Banking Brand of Turkey for the fifth consecutive year
The Most Valuable Brand of Turkey (2015) - The first ever Turkish bank to have received this title
Akbank also ranked among the top 100 global banks with the highest brand value

Euromoney - 2016:
The Best Bank of Central and Eastern Europe

Euromoney, Global Finance, World Finance and EMEA Finance - 2016:
The Best Bank in Turkey

The Banker - 2016:
Bank of The Year
Technology Project of the Year in API Category

Global Finance - 2016:
The Best Mobile Banking in Western Europe
The Best Bank for Cash Management in Turkey
The Best Private Banking Services Overall in Turkey

Global Finance - 2015:
The Best Bank in Turkey
The Best Bank for Cash Management in Turkey
The Best Private Banking Services Overall in Turkey
The Best Cash Management Services in Turkey
The Best in Mobile Banking in Western Europe
The Best Digital Bank in Turkey
The Best Mobile Banking App in the World

GlobalCapital – 2016:
Turkish deal of the year

EMEA Finance – 2016:
Best financial institution borrower Debt Capital Markets
Best financial institution syndicated loan in CEE
Best securitisation deal in EMEA
Best securitisation house in EMEA

EMEA Finance - 2015:
The Best Bank in Turkey
Best financial institution borrower
Best financial institution syndicated loan in CEE
Best follow-on funding in CEE
The Best Cash Management Services in Europe

Euromoney, Global Finance, World Finance and EMEA Finance - 2014 & 2015:
The Best Bank in Turkey

Euromoney, The Banker and PWM – 2014 & 2015:
The Best Private Banking Services Overall in Turkey

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