Akbank ( AKBNK ), a unit of Turkish conglomerate Sabanci Holding ( SAHOL ), has obtained a 367-day sustainability-linked syndicated loan in two tranches of $310mn and €267mn, the lender said on April 17. Story chart : Turkish corporates' external debt rollover rates. A total of 45 banks from 10 countries, including 16 newcomers, are participating in the facility. The renewal rate stood at 120%, while spreads fell sharply by 175bp compared to last year and by 100bp compared to the autumn season. The benefits of Turkey's so-called economic normalisation policy applied since June last year are clearly observed in the external debt rollovers. The cost of the USD-tranche stood at the guaranteed overnight financing rate ( SOFR ) plus 250bp while the cost of the EUR-tranche was the euro interbank offered rate ( Euribor ) plus 225bp.