Syndicated loan

The European Bank for Reconstruction and Development (EBRD) is supporting the production of a range of next generation all-electric and plug-in hybrid variants of one-ton commercial vehicles for the European market by arranging a 650 million-euro loan to Ford Otosan, US automaker Ford's joint venture with Turkey's Koç Holding, according to a statement from the bank on July 14.

Yapı Kredi, Turkey's third-largest private lender, announced on May 21 it had successfully inked a $962 million syndicated loan agreement for the first half of the year with the participation of 42 banks from 20 countries.

Banks will issue loans up to 50,000 euros each to very small enterprises with an annual turnover of no more than €200,000 in the context of the new Guarantee Fund of the Hellenic Development Bank that is expected to start operating in early March.

Having provided nearly $7 billion in financing from international financial institutions in the second half of this year, Turkish lenders reaffirmed trust in their country and sector.

Normalization steps around the world and positive developments concerning the COVID-19 vaccine has boosted the global risk appetite.

İş Bank, one Turkey's largest private lenders, has said it signed a syndicated loan agreement in the amount of 644.9 million euros (some $ 722 million) and $323.5 million with a maturity of 367 days.

Greek power utility Public Power Corporation (PPC) said on Wednesday that it will repay a bond due next month and that its operations and spending plan will continue smoothly.

State lender Ziraat Bank has secured a $1.425 billion syndicated loan with the participation of 40 banks from 22 countries.

Minos Zombanakis was one of the great financial innovators of his age, leading the wave of change which transformed the banking world in the latter part of the 20th century. His major contribution was a new type of loan which enabled banks to club together across borders to lend large sums of money to corporations and countries, the so-called syndicated loan.

Public Power Corporation (PPC), hit by unpaid bills during years of austerity, said it has reached a deal to refinance a 1.3-billion-euro syndicated loan and is close to finalizing a five-year business plan.

Turkey's Akbank announced on Aug. 15 that it had secured another $1.15 billion equivalent multi-currency syndicated loan for 2017.      
 
The loan, which breaks down into facilities of $542.6 million and 515.1 million euros, marks the bank's second round of refinancing in 2017 and will be used for the lender's trade finance and for general corporate purposes.