Project detail - REKA BITKISEL YAGLAR SANAYI VE TICA

REKA BITKISEL YAGLAR SANAYI VE TICA

Status: Completed investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

Reka is a newly set up company that started operating from 2013 onwards. The company crushes oil seeds and sells vegetable oil and meal. It also has further processing lines to refine and bottle oil. Reka is part of the Kucukbay group of companies, a large industrial group engaged in edible oil, detergents, packaging, real estate and media.

What is our funding objective?

Re-financing of (short term) debt and further capacity expansion of the crushing / refining facility.

Why do we fund this investment?

Reka is a professionally managed Turkish agribusiness company. Like in many other cases, the company has financed the investment mainly with short term debt and is facing some refinancing risks. The company would like to extend the average maturity of its debts and has approached EBRD to form an internal club to take up this financing opportunity. Local banks will remain involved, but focus on working capital.

Website customer/investment
http://www.rekaoil.com
Region
Europe & Central Asia
Country
Türkiye
Sector
Agribusiness, Food & Water
Effective date
9/29/2015
End date
8/17/2020
Total FMO financing
EUR 20.00 MLN
Funding
FMO NV
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B+