Borusan Raises $260 Million Through Syndicated Loan

23 January 2021
Borusan Holding raised a syndicated loan of $260 million to finance its strategic goals.

January 21, 2021, Istanbul; Borusan Holding, raised a syndicated loan of $260 million issued by an international and domestic consortium consisting of 11 banks from 7 differential geographic regions. Under the coordination of HSBC Middle East Limited; the MLAs were HSBC BANK A.S., HSBC Bank Middle East Limited, Garanti Bank, ICBS, İşbank, Akbank, Yapı Kredi Bank, QNB Finansbank, Vakıfbank, Odeabank and Alternatifbank. The syndication amounting to $260 million consists of two tranches; 155 million Dollars and 87 million Euros.

Erkan Kafadar, Group CEO of Borusan Holding highlighted the syndication as a concrete sign of confidence to both Turkey and Borusan, despite the current challenging environment of the global financial markets. Kafadar also stated;

“As Borusan Group, we have left behind a successful year in which we achieved our goals despite global uncertainty as well as unprecedented pandemic conditions. Together with our strength and sustainable growth-oriented strategies we adopted, we will continue to move forward more strongly and enhance our capacity. On the 77th year anniversary of our organization, we will continue to grow in Turkey and also in the foreign markets and contribute to our country's economic growth throughout 2021.”

Group CFO of Borusan Holding Barış Kökoğlu has made the following statement;

“This syndication raised by Borusan Holding, having a grace period of 18 months and a tenor of 5 years, is among the lowest cost transactions evidencing the trust of both our international and local banks in Borusan.”
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