Project detail - QNB FINANS FINANSAL KIRALAMA A.S.

QNB FINANS FINANSAL KIRALAMA A.S.

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Who is our client

QNB Finansleasing is a subsidiary of QNB Finansbank. QNB Finansleasing is one of the leading financial leasing companies in Turkey, with a growing market share, and a focus on providing access to finance to SME via its branch network throughout Turkey. Since the acquisition of Finansbank by Qatar National Bank (QNB) in 2016, the shareholder structure improved, and the rating of QNB Finansbank has been upgraded. Due to its diversified branch network, QNB Finansbank and QNB Finansleasing have good access to SMEs.

Funding objective

FMO will act as Mandated Lead arranger and Facility agent for an EUR 100m syndicated senior facility, of which EUR 30 mln will be provided by FMO. FMO's financing will be 30% used for Renewable Energy/Energy efficiency leasing contracts and 70% for SMEs.

Why we fund this project

Through this project FMO indirectly contributes to Turkey's renewable energy targets. With this use of funds FMO contributes to GHG avoidance via its contribution to the energy transition from traditional sources to renewable sources. At the same time FMO offers long-term financing in hard currency, which meets the funding requirements of such activities.

Environmental and social rationale

The client has been categorized as Category B in accordance with FMO’s Sustainability Policy. The client is a leasing company and it’s activities are deemed to have potential limited adverse environmental and social risks and/or impacts. As part of the transaction, Finans Leasing will be required to apply the EDFI Exclusion List and Turkish E&S laws and regulations.

More investments

Date Total FMO financing
6/1/2018 TRY 159.60 MLN
4/6/2017 USD 35.00 MLN
Website client
https://www.qnbfl.com/
Region
Europe & Central Asia
Country
Turkey
Sector
Financial Institutions
Signing date
8/27/2021
Total FMO financing
EUR 48.50 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