Halkbank raises US$600mn loans

Published: July 23, 2010

Turkish bank secures funds from 27 institutions.

Turkey’s state bank has raised almost US$600mn in dual-tranche syndicated loans to help it finance its foreign trade activities.

Halkbank has secured US$130mn and €349mn (US$451.7mn) in loans from international markets which will mature after one year.

The funds were provided by 27 banks from 12 countries at a cost of LIBOR +1.5% and EURIBOR +1.5% respectively.

There are almost 600 Halkbank branches in Turkey and it is also represented in Northern Cyprus, Germany, Iran and Bahrain.