Ziraat Bank secures $1.24 billion loan

Turkey’s Ziraat Bank said on Monday that it had secured a syndicated loan totaling $1.24 billion which will be used according to environmental sustainability criteria and to support gender equality in production.

In a statement, the state bank said $352.5 million of the loan was borrowed at the secured overnight funding rate (SOFR) plus 275 basis points and a 814 million euro ($885.88 million) portion was borrowed at Euribor plus 210 basis points.

The loan saw interest from 45 banks in 21 countries, Ziraat said.