Project detail - EKIM TURIZM TICARET VE SANAYI A.S

EKIM TURIZM TICARET VE SANAYI A.S

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Who is our client

Ekim (Intercity) is a leading operational car leasing company in Turkey. With more than 35,000 vehicles in its fleet, purchased directly from carmakers, it leases them to corporate clients with one- to three-year contracts, and provides comprehensive nationwide service, including periodic maintenance, repairs, insurance, replacement cars, and 24/7 roadside assistance. The company employs over 410 people.

Funding objective

FMO purchased a TL 20 million share out of a TL 61 million unsecured bond issued by our longstanding client Intercity. FMO alongside with EBRD acted as anchor investor in the 3 year bond tranche and supported Intercity in its efforts to access capital markets and diversify its funding base. The funds will be used to expand the car fleet of the company.

Why we fund this project

Intercity increases mobility all across Turkey for business clients, including a substantial amount of SMEs, through its operational lease services.

Website client
http://www.intercityrentacar.com
Region
Europe & Central Asia
Country
Turkey
Sector
Infrastructure, Manufacturing and Services
Signing date
12/7/2015
Total FMO financing
TRY 20.00 MLN
Fund
FMO
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