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Stock impact report

Turkey's Ziraat Bank Gets Record $1.7 Billion Syndicated Loan [BNN Bloomberg (Canada)]

Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG) 
US:NYSE Investor Relations: smfg.co.jp/english/investor
Company Research Source: BNN Bloomberg
With the new facility, consisting of $742 million and 884 million euros, Ziraat renewed its previous loan of $1.29 billion with a 132% roll-over ratio, chief executive officer Alpaslan Cakar said in a statement. The statement didn't provide details on the cost of the borrowing, though Bloomberg reported earlier that it would be at a spread of 2.5 percentage points above the Secured Overnight Financing Rate for the dollar portion and 2.25 percentage points above Euribor for the Euro tranche. Cakar said the loan's cost was 175 basis points lower than the previous loan. Ziraat will use the resource to finance foreign trade and sustainable agriculture. Abu Dhabi Commercial Bank PJSC and Emirates NBD Capital Limited acted as coordinators and bookrunners while Emirates NBD Capital Limited, First Abu Dhabi Bank, Standard Chartered Bank and Sumitomo Mitsui Banking Corp. were ESG coordinators. Facility agent was Mizuho Bank Ltd. A total of 70 lenders, 21 more from the loan secured in 2023, Show less Read more
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