Sisecam Bond

completed

This project consists of a corporate level bond issue to an existing IFC Client, Ṣișecam, to support its capital expenditures in its subsidiaries as well as to finance its various energy efficiency and other renovation investments and potential greenfield projects. Established in 1935 by Ișbank, one of the largest commercial banks in Turkey, Ṣișecam controls 28 affiliated companies through a Group holding structure organized along four main business divisions – flat glass, tableware, glass packaging and chemicals. Ṣișecam is among the 12 largest glass producers in the world with 3.5 million tons of production capacity annually, together with its three main subsidiaries: Trakya (flat glass), Anadolu Cam (glass packaging) and Soda Sanayii (chemicals).The Group is currently setting up new float and auto-glass lines in Russia and Turkey and expanding its capacity in tableware in Russia and soda ash in Bosnia. Apart from capacity expansions, Ṣișecam will be undertaking various energy efficiency and renovation investments in Turkey and abroad. The Group is also evaluating possible acquisitions and new greenfield investments. IFC has a long-standing relationship with Ṣișecam developed over 40 years in Turkey, Russia, Bulgaria and Bosnia.