Turkey Wealth Fund Obtains €790 Million Syndicated Loan

Posted on 03/26/2023

On March 16 2023, Türkiye Wealth Fund (TWF), otherwise known as the Turkey Wealth Fund, signed a €790 million two-year term facility agreement with the participation of 11 banks from 9 countries. The deal attracted the participation of three new banks, Akbank T.A.S, Malta Branch, Standard Chartered Bank, and Atlantic Forfaitierungs AG. The pricing of the loan is Euribor + 4.25% percent annualized.

Industrial and Commercial Bank of China Limited (ICBC) acted as the lead bookrunner and joint coordinator and Emirates NBD Capital Limited acted as the bookrunner, joint coordinator and documentation and facility agent on the transaction.

ICBC joined the deal as senior mandated lead arranger; Akbank T.A.S Malta Branch, Emirates NBD Bank (P.J.S.C.), ING, Qatar National Bank (Q.P.S.C.) joined as mandated lead arrangers; and BBVA, Societe Generale, Standard Chartered Bank, Citibank, Bank of America Europe Designated Activity Company, and Atlantic Forfaitierungs AG acted as the lead arrangers.

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