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“DENİZBANK PROVIDES 840 MILLION DOLLARS FOR SUSTAINABLE AGRICULTURE”

840 million dollars resource for sustainable agriculture…

Denizbank provided a foreign source of 840 million dollars with a sustainability-related syndication loan.

Financing sustainable agriculture, which is of great importance in ensuring food security, was among the performance criteria of the transaction. The transaction was the largest syndicated loan in the sector in the last two years, with 49 participants from 22 countries.

The total cost of the transaction, which took place with a 110 percent renewal rate, was LIBOR + 2.15 percent and EURIBOR + 1.75 percent in Dollars and Euros, respectively.

In the first half of the year, a new syndication loan of 410 million dollars and a securitization transaction based on 435 million dollars of foreign remittance flows, the amount of fresh funds that DenizBank provided to the economy under the shareholding of Emirates NBD reached 3.6 billion dollars in total.

30 percent of the foreign currency funding provided by the Bank since the beginning of 2021 was related to sustainability.

LARGEST PARTICIPATION SYNDICATION…

Stating that they approach the sustainability issue as a whole with their environmental and social responsibilities, DenizBank General Manager Hakan Ateş said, “We realized the syndication loan with the widest participation in the sector in the last two years. We are the only bank that sets performance criteria for the financing of agriculture, which is vital for our future.”

“On the other hand, we work intensively to provide lifeline to our SMEs, which play a leading role in Turkey’s achievement of its economic growth targets and to support the participation of women in business life in particular,” Hakan Ateş added…

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