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Turkey's Vakifbank obtains $928.6 mln securitisation loan

Dec 22, 2014, 12:52:10 PMArticle by Yurkie Ali
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ISTANBUL (Turkey), December 22 (SeeNews) – Turkish lender Vakifbank [BIST:VAKBN] said it has obtained a $928.6 million (757.6 million euro) securitisation loan denominated in U.S. dollars and euro.

Turkey's Vakifbank obtains $928.6 mln securitisation loan

The $500 million portion of the loan has a maturity of five years and the 428.6 million euro part of the loan is repayable in seven years, Vakifbank said in a bourse filing on Friday.

The loan is provided in seven tranches. The $125 million tranche extended by the European Bank for Reconstruction and Development (EBRD) will be used to finance women-led businesses and agricultural small and medium-sized enterprises (SMEs).

($ = 0.816 euro)

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