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QNB Türkiye has renewed its syndicated loan from international markets with a 150% rollover, securing the equivalent of $600 million in fresh funding.
The bank announced on Thursday that it raised the funds through a sustainability-linked syndicated loan package spanning 1, 2, and 3-year maturities in both U.S. dollars and euros.
According to the statement, the syndicated facility comprises $122 million and €64 million for 1 year, $191 million and €16 million for 2 years, and $160 million and €30 million ($33.95 million) for 3 years. The transaction marks the third time in 6 years that QNB Türkiye has obtained funding with a 3-year maturity, reflecting the institution's resilience and credibility in global markets.
Investor interest exceeded expectations, reaching over $1 billion, more than double the maturing amount. The strong demand allowed QNB Türkiye to increase the size of its new syndication by 150%. The funding will support the bank's lending portfolio aligned with the environmental and social standards outlined in QNB Group’s Sustainable Finance and Product Framework.
A total of 46 banks from 20 countries participated in the transaction, including 18 new institutions and five new countries, broadening the investor base. The pricing on the loan varied by currency and maturity. In the dollar tranche, the cost was set at SOFR plus 1.60% for 1 year, 2.00% for 2 years, and 2.25% for 3 years. In euros, the margin was Euribor plus 1.35%, 1.75%, and 2.00%, respectively.
QNB Türkiye CEO Omur Tan described the oversubscription as a clear indication of investor confidence in both Türkiye and QNB Türkiye. He noted that the inclusion of longer maturities, including 3-year terms, reinforced the bank’s leadership position in the market. Tan also emphasized the bank's continued commitment to supporting Türkiye’s sustainable development, particularly by enhancing access to finance for small and medium-sized enterprises (SMEs), a key pillar of the national economy.
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