DenizBank, under the leadership of its shareholder Emirates NBD (ENBD), signed a club loan agreement in the amount of USD 400 million with OYAK, with a total maturity of 6 years and a 1-year grace period.
OYAK will utilize the facility to finance strategic investments aligned with its sustainable growth objectives.
The transaction, executed under DenizBank’s coordination, strongly demonstrates the confidence of ENBD, one of the largest banks in the Gulf Region, in the Turkish economy, while once again confirming OYAK, one of Türkiye’s leading corporate groups, and its robust access to international capital markets.
Speaking at the signing ceremony, Murat Yalçıntaş, General Manager of OYAK, stated, “This agreement concluded with DenizBank represents an important step within OYAK’s investment strategy focused on growth and efficiency. For many years, we have operated in sectors that contribute to Türkiye’s development. With this financing opportunity, while strengthening our financial structure, we will focus on investments that will enhance efficiency in our activities across various sectors and reinforce our global competitiveness. The trust that DenizBank and its shareholder ENBD place in our country and in OYAK strengthens our own confidence in our long-term objectives. We will continue with determination to create value for the Turkish economy and to increase employment and production.”
In his remarks, Recep Baştuğ, CEO of Denizbank, stated, “With its strong financial structure and long-term growth vision, OYAK Group is among the most established institutions of our country. At DenizBank, we aim to enhance the added value the Group provides to Türkiye by supporting its operations domestically and internationally. Both our shareholder ENBD and we fully believe in Türkiye’s potential. Our shareholder’s determined approach to further increasing its contributions to Türkiye boosts our motivation. This transaction is not only a concrete indicator of the trust placed in OYAK, but also valuable in demonstrating our Bank’s leading position and international network in the field of corporate finance. With this loan placement, we are taking our long-term commitment to our country one step further, and we are pleased to contribute to OYAK’s sustainable growth strategy.”
