DCM Seker CB 2

completed

The project consists of an IFC investment up to US$60 million equivalent to be invested in Turkish Liras in the new issuances of Sekerbank’s Covered Bond Programme with a 5 year tenor.Proceeds of IFC’s proposed investment would provide medium and long-term financing to micro, small, and medium enterprises (“MSME”) in Turkey.Sekerbank was established in 1953 in Turkey by several sugar beet cooperatives to respond to their financial needs. Sekerbank held an initial public offering in 1997 and subsequently implemented a transformation program in 2002 to restructure and improve its operations. As a result, the bank became a multi-channel, diversified financial institution targeting customer segments with appropriate products and services primarily in MSME banking segment. Sekerbank services 71 of the 81 provinces in Turkey through a network of 301 branch and employs 3,818 staff member.