Syndicated loan

Turkey's Akbank announced on Aug. 15 that it had secured another $1.15 billion equivalent multi-currency syndicated loan for 2017.      
 
The loan, which breaks down into facilities of $542.6 million and 515.1 million euros, marks the bank's second round of refinancing in 2017 and will be used for the lender's trade finance and for general corporate purposes.        

In a move to support innovation in Turkey's financial sector, the EBRD has said it is providing a syndicated loan of 120 million Turkish Liras (36 million-euro equivalent) to Hayat Varlık, the largest non-performing loans (NPL) and asset management company in the country, in a statement. 

Greece's power utility Public Power Corp. secured initial approval for a 200 million euro ($210.5 million) bank loan by the country's main lenders, it said on Wednesday.

The banks are expected to notify PPC on the final terms for the new syndicated loan before it is signed, PPC said in a bourse filing.

Postbank will provide support to micro, small, and medium-sized enterprises in Bulgaria through loans worth a total of BGN 30 M granted under preferential terms.

The funding has been provided under a partnership agreement under the new program of the Bulgarian Development Bank for indirect financing of Bulgarian businesses, according to the press office of the bank.

Türk Eximbank has signed syndicated loans worth 500 million euros with the participation of 26 banks, it announced in a written statement on July 21. 

Türk Eximbank, the official export credit agency of the Turkish government and Turkey?s major export incentive instrument, thus refinanced transactions worth 330 million euros that were due on July 16, the statement added. 

Turkish lender Yap? Kredi said on May 4 it had made a 364-day and 367-day syndicated loan agreement comprised of a U.S. dollar tranche of $513 million and a euro tranche of 835 million euros.

?This syndication is the successful refinancing of Yap? Kredi?s existing syndication loan signed in April 2014 with a roll-over ratio of above 114 percent,? the bank said in a statement. 

Turkey's Finansbank, owned by National Bank of Greece, said on Tuesday it secured a syndicated loan in two tranches of $397 million and 356 million euro ($442.6 million).

The loans will be used to finance foreign trade and has a maturity of 1 year, said the statement to the Istanbul stock exchange. [Reuters]