Ekim Turizm Ticaret ve Sanayi A.S. II

completed

The proposed project involves the structuring and implementation of an asset-backed securitization (ABS) program consisting of an immediate warehousing loan of up to Euro 40 million to and a credit enhancement facility (CEF) of up to Euro 20 million to Ekim Turizm Ticaret ve Sanayi A.S. (Intercity or the company), an existing IFC client and the leading fleet management and vehicle leasing company in Turkey. The lease receivables financed by the warehousing loan are expected to be used as assets to back the securitization issuances under the proposed ABS program. The objective of the project is to enable the company to diversify its funding base by accessing more competitive and sustainable term funding both in the domestic and international capital markets.