Dual Tranche Multi-Currency Club-Term Loan Facility
On 21 April 2010, Yapı Kredi successfully signed a 1 year Dual Tranche Multi-Currency Term-Loan Facility exceeding ~US$ 1 billion. The club loan facility, raised by a syndicate of 51 of Yapı Kredi’s key relationship banks representing 19 countries, is comprised of a US Dollar tranche of US$ 324 million and a Euro tranche of € 516 million. The all-in cost is Libor/Euribor plus 1.5% per annum. The club loan facility is a replacement of US$ 410 million of syndication loan that was signed in April 2009. The proceeds of the loan will be used by the Bank to pre-finance customer exports and export contracts.
While Yapı Kredi had targeted an initial amount of US$ 500 million, the Bank was successful in attracting double the amount of commitments exceeding ~US$ 1 billion. Accordingly, the success of the transaction is a testament to Yapı Kredi’s continued strong performance as well as its solid banking relationships.
Commerzbank Aktiengesellschaft acted as Coordinating Bank and Wells Fargo Bank N.A. acted as Documentation and Facility Agent.
Istanbul, 22 April 2010
Enquiries:
Yapı Kredi Investor Relations
Tel: (90) (212) 339 7647
Email: yapikredi_investorrelations@yapikredi.com.tr
Yapı Kredi / 22 Apr 2010