The sustainable syndicated loan It has a maturity of 367 days and consists of two separate tranches, the first of 240.75 million dollars and the second of 178.6 million euros. 46 banks from 22 different countries participate in the loan, with an interest rate of SOFR + 2.50% and Euribor + 2.25%, respectively.
The country manager of BBVA’s Turkish subsidiary, Recep Baştuğ, stressed that the entity is a pioneer in sustainable financing in Turkey. “With this agreement, we will continue to increase the financing we provide to combat the climate crisis and support inclusive growth, which are strategic priorities for us,” he said. In addition, the renewal of the syndicated loan will contribute to supporting Garanti BBVA’s decision to progressively abandon the financing of coal-related activities, the manager added.
