Economy Turkey’s Akbank receives over $1 billion loan

Turkey’s Akbank receives over $1 billion loan

Turkish Akbank
Turkish Akbank

(AA) – Turkish Akbank has secured a syndicated loan worth of $1.2 billion according to a statement from the bank on Tuesday.

The agreement of the loan intended to fund the foreign trade operations of corporations in Turkey was inked on Monday, the bank announced in a filing published in the Public Disclosure Platform.

The loan’s interest rate will be + 0.70% for the dollar tranche and + 0.80% for the euro tranche.

After news of the loan was made public, shares of the bank trading in Borsa Istanbul jumped 1.18 percent to 7.70 from 7.61 points.

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