Turkey’s Akbank plan $600 million refinancing for maturing syndicated loans

ISTANBUL (Reuters) – Turkey’s Akbank said on Friday it has planned some $600 million equivalent refinancing for its maturing syndicated loans, owing to the bank’s strong forex liquidity and expectation for flat forex loan growth in 2019.

The bank said in an emailed statement it had decreased all-in pricing across its USD/EUR tranche by 25 basis points (to Libor+250 bps / Euribor+240 bps) in its 1-year March 2019 syndicated loan facility.

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