Şişecam used a new syndicated loan of $247.9 million to refinance the $180.7 million 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 Şişecam at a time when global fluctuations are quite high, say officials.
How Sisecam will use the loan
Şişecam 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.
Şişecam, which has always been a highly credible institution from the international banks and financial institutions perspective, say officials, 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.
