MUFG has played a significant role coordinating the financing of Türk Eximbank, providing a one-year €400 million syndicated loan from 18 banks, including MUFG.
The loan, which was at a rate of EURIBOR/LIBOR plus 110 basis points, brought the level of Turk Eximbank funds secured from the syndication market up to €1.3 billion.
Türk Eximbank General Manager Adnan Yıldırım, said:
“This is as a result of the confidence from the international finance sector, as well as confidence in Türk Eximbank, and the Turkish state Treasury. The confidence in the Turkish economy abroad is high, which we have witnessed again today. We believe that we will achieve the same success across our business this year."
Sebastien Rozes, Head of Corporate Banking in EMEA at MUFG added:
“While Turkey has weathered headwinds over the past months, there are also plenty of positive stories to be found. The successful closing of this refinancing of Türk Eximbank is a telling example of one of those good stories highlighting the support of the international banking community for the country. Our confidence in Turkey is also corroborated by the recent stabilisation in Turkish bond yields. I am delighted that MUFG was able to play our part in this successful transaction, which would not have been possible without the commanding stance of Türk Eximbank's management team."