Quick Facts

Countries:
Where the impacts of the investment may be experienced.
  • Turkey
Banks:
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
  • Netherlands Development Finance Company (FMO)
Status: Approved
Bank Risk Rating: B
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Board Decision Date: 2015-12-07
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower or Client: Ekim (Intercity)
The holder of the loan, grant, or other investment.
Sectors:
The service or industry focus of the investment. A project can have several sectors.
  • Infrastructure
Investment Type(s): Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD): $ 6.88 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported TRY 20.00 MLN
Converted using 2015-12-07 exchange rate.
Loan Amount (USD): $ 6.88 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.

Currency conversion note:
Bank reported TRY 20.00 MLN
Converted using 2015-12-07 exchange rate.

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Primary Source

Original disclosure @ FMO website
Updated in EWS: 2018-01-25
EKIM TURIZM TICARET VE SANAYI A.S
FMO-45038

Project Description

FMO purchased a TL 20 million share out of a TL 61 million unsecured bond issued by our longstanding client Intercity. FMO alongside with EBRD acted as anchor investor in the 3 year bond tranche and supported Intercity in its efforts to access capital markets and diversify its funding base. The funds will be used to expand the car fleet of the company. The impact of this project will be Intercity increases mobility all across Turkey for business clients, including a substantial amount of SMEs, through its operational lease services.

Investment Description
Contact Information

No contact information at the time of disclosure.