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ICBC leads EUR 790 million syndicated loan in 2023 to Türkiye Wealth Fund for unspecified purposes
| Funder | Industrial and Commercial Bank of China (ICBC) |
|---|---|
| Recipient Organization | Turkey Wealth Fund (TWF) |
| Country | Turkey |
| Start Date | Mar 16, 2023 |
| End Date | Jun 08, 2026 |
| Duration | 1,180 days |
| Number of Grantees | 1 |
| Roles | Recipient |
| Data Source | AidData Chinese Aid |
| Grant ID | 108455 |
Grant Description
ICBC leads EUR 790 million syndicated loan to Türkiye Wealth Fund for unspecified purposes in 2023 On March 16, 2023, Türkiye Wealth Fund signed an EUR 790 million syndicated loan agreement for unspecified purposes with 12 banks.
ICBC acted as the Lead Bookrunner and Joint Coordinator and Emirates NBD Capital Limited acted as the Bookrunner, Joint Coordinator and Documentation and Facility Agent on the transaction.
ICBC joined the deal as Senior Mandated Lead Arranger; Akbank T.A.S Malta Branch, Emirates NBD Bank (P.J.S.C.), ING, Qatar National Bank (Q.P.S.C.) joined as Mandated Lead Arrangers; and BBVA, Societe Generale, Standard Chartered Bank, Citibank, Bank of America Europe Designated Activity Company, and Atlantic Forfaitierungs AG acted as the Lead Arrangers.
It was backed by a sovereign guarantee.
Staff Comments
- The individual financial contributions of the members of the syndicate are unknown. For the time being, AidData assumes equal contributions (EUR 65,833,333.3) across the 12 members of the syndicate.
- The Turkey Wealth Fund is a $33 billion sovereign wealth fund founded in August 2016 owned by Government of Turkey. The fund is operated with a ‘Strategic Investment Plan,’ which was approved by the Cabinet.
Sources & References
- Public Debt Management Report April 2023
- Public Debt Management Report March 2024
- Back to Disclosures TWF obtains EUR 790 million syndicated loan with a two-year maturity
- Public Debt Management Report Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.
All Grantees
Turkey Wealth Fund (TWF)
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