[Sustainability Linked] Yapı Kredi secured sustainability-linked syndicated loan amounting to US$ 810 million
On 25 May 2022, Yapı Kredi successfully signed a sustainability-linked syndicated loan agreement totalling US$ 810 million at 367 days maturity.
The Bank’s sustainability-linked syndicated loan facility is secured through two different tranches; US$ 349.5 million and Euro 431.5 million. The total cost of the deal for USD and EUR is SOFR+2.75% and Euribor+2.10% respectively. The proceeds of the transaction are going to be used for trade financing purposes.
Accordingly, the performance criteria determined in line with Yapı Kredi's long-term sustainable value creation strategy for all stakeholders take the Bank's targets to a higher level.
In addition to “the ESG risk management rating and electricity procurement from renewable energy sources” criteria which were used in the sustainability-linked syndicated loans in 2021, the Bank added a new performance criteria for reducing scope 1 and 2 greenhouse gas emissions. In case the sustainability criteria are met during the specified test periods, there will be an improvement in the costs of the syndicated loan.
The facility includes Yapı Kredi’s key relationship partners from 19 countries and 37 financial institutions.
Istanbul, 25 May 2022
Enquiries:
Yapı Kredi Investor Relations & Yapı Kredi Sustainability
Investor Relations Email: yapikredi_investorrelations@yapikredi.com.tr
Sustainability Email: sustainability@yapikredi.com.tr