Garanti BBVA Secures Over $440 Million in Syndicated Loan to Support Turkish Economy and Sustainable Projects

Garanti BBVA Secures Over $440 Million in Syndicated Loan to Support Turkish Economy and Sustainable Projects

(IN BRIEF) Garanti BBVA has secured over $440 million through a syndicated loan to bolster the Turkish economy, aligned with the bank’s commitment to sustainability. The loan, supported by 43 banks across 20 countries, includes tranches with maturities of 367 and 734 days, providing vital financing for foreign trade and projects focused on climate crisis mitigation. Garanti BBVA’s commitment to sustainable finance continues to drive long-term growth for Turkey, as evidenced by its exceeding sustainability finance targets ahead of schedule.

(PRESS RELEASE) ISTANBUL, 7-Jun-2025 — /EuropaWire/ — Garanti BBVA has successfully renewed its syndicated loan, contributing over $440 million to support the Turkish economy as part of its foreign funding program. The transaction, conducted in line with the bank’s Sustainable Debt Financing Framework, consists of four tranches with maturities of 367 and 734 days. The syndication saw strong demand, leading to the opening of two new 734-day tranches, complementing the two existing 367-day tranches.

The two 367-day tranches, valued at $95.75 million and €99.28 million, were complemented by the addition of two new 734-day tranches, amounting to $191.5 million and €36 million. The cost of the 367-day tranches was SOFR + 1.60% for the USD tranche and Euribor + 1.35% for the EUR tranche. For the 734-day tranches, the cost was SOFR + 2.00% and Euribor + 1.75%, respectively.

This successful transaction, signed on June 3, 2025, involved 43 banks from 20 countries and reflects Garanti BBVA’s strong position in the international financial markets, particularly in the context of sustainable finance. The loan will be allocated to areas aligned with sustainability principles, which Garanti BBVA has defined in collaboration with the BBVA Group.

Mahmut Akten, CEO of Garanti BBVA, commented:

“We are proud to have secured this new source of funding from international markets and to have completed the syndication successfully. The strong demand for this transaction is a clear indication of the trust international investors have in Garanti BBVA and in Turkey. This sustainable loan agreement enables us to support foreign trade financing for the real economy and to continue our long-term contributions to Turkey’s growth.”

Sustainable Finance Leadership

Garanti BBVA has been at the forefront of integrating sustainability into its financial strategy. Between 2021 and 2024, the bank exceeded its target of channeling €600 million into social initiatives, achieving the goal a year ahead of schedule. The bank’s sustainable finance strategy, which began in 2018, has successfully mobilized TL 400 billion in sustainable finance by April 2025. The bank’s efforts have also included syndicated loans linked to sustainability criteria, further reinforcing its commitment to financing projects that contribute to climate mitigation and inclusive growth.

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SOURCE: BBVA