PHOTO
ISTANBUL, TURKEY - DECEMBER 01: People walk past a branch of Turkish bank Ziraat Bank on December 1, 2017 in Istanbul, Turkey. The trial of Mr. Reza Zarrab, an Iranian-Turk who ran a foreign exchange and gold dealership continues in New York. In recent days testimony Mr. Zarrab implicated a number of Turkish Banks as well as high ranking government officials. Mr. Zarrab is accused of managing a billion-dollar scheme to smuggle gold for Iranian oil and conspiring to violate United States sanctions against Iran. (Photo by Chris McGrath/Getty Images)
ISTANBUL - Turkey's Ziraat Bank said on Thursday it had secured a sustainability-themed syndicated loan totalling $1.75 billion, in two tranches of $850 million and 789 million euros.
It said this year's syndicated loan offered a cost advantage despite geographical diversity and changing conditions and there was a 90 basis-point decrease in syndicated loan interest rates compared to the same period last year.
The statement said 69 banks from 29 countries participated in the loan and the resources from the loan will be used for financing foreign trade, sustainable agricultural projects and real sector investments.
(Reporting by Ebru Tuncay; Editing by Daren Butler)
