Yapi Kredi secures US$1.5bn loan

Yapi Kredi secures US$1.5bn loan

Published: May 1, 2014

Club of 51 banks helps Turkish firm to refinance facility from last April.

Turkish bank Yapi Kredi has signed a one-year, dual-tranche loan for the equivalent of almost US$1.5bn with 51 of its relationship banks.

The deal has secured the bank US$319.1mn and €852.6mn (US$1.18bn) to refinance a loan signed last April. This deal was priced at LIBOR plus 90 basis points, 10 basis points less than the 2013 loan.

Wells Fargo Bank acted as coordinating bank. Bayerische Landesbank was agent.