EBRD contributes €50m to Denizbank syndicated loan
The European Bank for Reconstruction and Development is joining a group of international lenders in a syndicated loan to Turkey's Denizbank.
The syndicate includes 45 financiers from 22 countries and is led by Bank of America, Merrill Lynch, Abu Dhabi Commercial Bank and Emirates NBD Capital.
The EBRD is contributing a US dollar equivalent of €50 million. Emirates NBD Bank acquired Denizbank in 2019. The transaction marks Denizbank’s return to the international syndicated loan market under a new ownership structure.
The EBRD funds will be on-lent to Turkish businesses seeking finance to expand. Denizbank is aiming to grow its MSME portfolio, focusing in particular on agricultural enterprises, and to attract new clients, especially outside large metropolitan areas.
