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Türkiye's second-largest private bank, Isbank, signed a $1.3 billion syndicated loan agreement with a 367-day maturity, aimed at supporting activities that generate positive environmental and social impact, the bank said in a statement on Wednesday.
The facility consists of two tranches—$751 million and €513.5 million ($595.53 million)—and falls under Isbank’s “Sustainable Finance Framework.” The funding will be used to finance projects aligned with the bank’s sustainability goals, particularly in areas that support Türkiye’s broader transition to a greener economy.
A total of 54 banks from 21 countries across the Americas, Europe, the Middle East, and Asia participated in the deal. According to the bank, this broad-based participation reflects continued international confidence in Türkiye’s financial institutions and economic potential.
For the lenders offering the highest contributions, the cost of the loan was set at secured overnight financing rate (SOFR) plus 1.60% for the U.S. dollar tranche and Euribor (Euro Interbank Offered Rate) plus 1.35% for the euro tranche.
Several prominent global banks took leading roles in the arrangement. Emirates NBD Capital Limited, Abu Dhabi Commercial Bank PJSC, Mizuho Bank, and Standard Chartered Bank acted as coordinating banks. Meanwhile, First Abu Dhabi Bank PJSC and ING Bank NV served as sustainability coordinators, and Emirates NBD Bank PJSC took on the role of agent bank.
Isbank CEO Hakan Aran emphasized that the financing deal plays a crucial role in reinforcing the bank’s sustainability-driven strategy and its support for the real economy. He noted that renewing last year’s equivalent loan with a 123% increase under ongoing global and trade uncertainties reaffirms the trust in both the institution and Türkiye’s economic outlook.
He also stressed the alignment of the funding with the bank’s multi-dimensional efforts toward achieving sustainable development goals. “By efficiently using this resource, we will not only back sustainable economic growth, but also contribute to the implementation of our Climate Transformation Plan, developed in line with our net-zero targets,” Aran said.
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