Akbank to Borrow $1.5 Billion in One-Year Syndicated Loan

Akbank TAS (AKBNK), a Turkish bank part owned by Citigroup Inc. (C), agreed a $1.5 billion, one-year syndicated loan, the bank said today in a filing with the Istanbul Stock Exchange.

It didn’t name the banks it hired for the borrowing.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net

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