EKIM TURIZM TICARET VE SANAYI A.S
Status: Completed investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
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
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.
What is our 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 do we fund this investment?
Intercity increases mobility all across Turkey for business clients, including a substantial amount of SMEs, through its operational lease services.
- Website customer/investment
- http://www.intercityrentacar.com
- Region
- Europe & Central Asia
- Country
- Türkiye
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 12/7/2015
- End date
- 1/24/2019
- Total FMO financing
- TRY 20.00 MLN
- Funding
- FMO NV
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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