Turkey's Yapi Kredi bank secures $1.35B loan

By Gokhan Ergocun

ANKARA (AA) - Turkey’s Yapi Kredi bank secured a $1.35 billion multi-currency syndicated loan on Tuesday.

The loan will be used in foreign trade financing, the bank said in a statement.

The loan was signed with the participation of 37 banks from 17 countries, under the coordination of Bank of America Merrill Lynch International and ICBC Turkey.

The bank's CEO Faik Acikalin said: "This syndicated loan is an important indicator of confidence in Turkish economy and Yapi Kredi."