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CMS advises Akbank on obtaining USD 1.2b loan

The International Banking and Finance team of CMS has advised Akbank T.A.S., Turkey’s 4th largest bank, on obtaining a EUR 1.2 bn loan from a group of banks.

The transaction is a rollover of the syndicated loan that the Akbank had secured last August with a 15 basis point reduction in cost. The facility was provided with the participation of 41 banks from 15 countries at a lower cost despite the volatility in the international markets.

“Turkey has always been a key market for our International Banking & Finance team and we were pleased to advise Akbank on such a significant transaction. It once again confirms the strength of our relationships with leading Turkish financial institutions,” says partner Mark Segall, who led the transaction.