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Sisecam Used a Syndicated Loan of 240 Million Euros

Türkiye Şişe ve Cam Fabrikaları
·2-min read

SISECAM USED A SYNDICATED LOAN OF 240 MILLION EUROS

SISECAM USED A SYNDICATED LOAN OF 240 MILLION EUROS
SISECAM USED A SYNDICATED LOAN OF 240 MILLION EUROS

ISTANBUL, Turkey, Nov. 09, 2022 (GLOBE NEWSWIRE) -- Sisecam used a new syndicated loan of 240 million Euros to refinance the 175 million Euros loan that the Company used in 2019 to meet its investment and capitalization needs in Turkey and Europe. The 3-year new syndicated loan is used from 9 banks under the leadership of Bank of America and BNP Paribas. The debt rollover ratio of the new syndicated loan is 137 percent. The transaction once again revealed the trust of international financial institutions towards Sisecam at a time when global fluctuations are quite high.

Sisecam, a global player in the glass and chemicals industries, used a new syndicated loan of 240 million Euros to refinance the 175 million Euro loan that the Company used in 2019 to meet its investment and capitalization needs in Turkey and Europe. Under the leadership of Bank of America and BNP Paribas, the debt rollover ratio for the syndicated loan used from 9 banks was 137 percent. The transaction once again revealed the trust of international financial institutions towards Sisecam at a time when global fluctuations are quite high.

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Sisecam will use the additional loan amount for investment and capitalization needs in Turkey and Europe. The maturity of the new syndicated loan will be 3 years. Sisecam, which has always been a highly credible institution from the international banks and financial institutions perspective, once again proved its financial reputation arising from its solid financial structure with this transaction it carried out in a period of fluctuations on a global scale. Combining its power from production with its sustainable growth approach, R&D competencies and digital systems, Sisecam once again proved its sustainable growth performance and its ability to fulfill its obligations in the eyes of global financial institutions.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/eb37bc62-933e-49e6-80f9-cbdcb5ddd9cc

CONTACT: Ayşegül Akyarlı AAKYARLI@sisecam.com