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VakıfBank Secures €200 Million in 10-Year Financing
The funding is backed by a 95% guarantee from Italy’s export credit agency and is intended to support foreign trade financing.
Key takeaways
- VakıfBank secured €200 million in 10-year financing from ING Germany.
- Italy’s SACE guarantees 95% of the financing.
VakıfBank secured €200 million in 10-year financing from ING Germany, according to a company disclosure filed with KAP on October 13. Italy’s official export credit agency, SACE, guarantees 95% of the financing.
The bank said the arrangement is intended to support access to foreign trade financing and contribute to trade between Türkiye and Italy. For shareholders, it is a funding arrangement for the bank, not a share sale; the disclosure gives no details on pricing or how the funds will be used.
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Further reading
This article was produced with the help of AI technology. Source: Yahoo Finance
