Şişecam used a new syndicated loan of 240 million Euros to refinance the 175 million Euros loan that the Company used in 2019 to meet its investment and capitalization needs in Turkey and Europe. The 3-year new syndicated loan is used from 9 banks under the leadership of Bank of America and BNP Paribas. The debt rollover ratio of the new syndicated loan is 137 percent. The transaction once again revealed the trust of international financial institutions towards Şişecam at a time when global fluctuations are quite high.
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, 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. Combining its power from production with its sustainable growth approach, R&D competencies and digital systems, Şişecam once again proved its sustainable growth performance and its ability to fulfill its obligations in the eyes of global financial institutions.
About Şişecam
Şişecam was founded in 1935 to establish Turkey’s glass industry in line with the vision of Mustafa Kemal Atatürk, the founder of the Turkish Republic. Today, Şişecam is a strong global player in the fields of glass and chemicals. Şişecam is the only global company operating in all core areas of glass production – including flat glass, glassware, glass packaging, and glass fiber. Currently, Şişecam ranks among the world’s top two manufacturers of glassware and the top five producers of glass packaging and flat glass. Şişecam is one of the three largest soda ash producers in the world and the world leader in chromium chemicals.
Şişecam plays a leading role in the flat glass, glassware, glass packaging, chemicals, automotive, glass fiber, mining, energy and recycling business lines. Şişecam operates production facilities in Germany, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia-Herzegovina, Russian Federation, Georgia, Ukraine, Egypt, India, and the USA in addition to Turkey.
Şişecam is taking major steps towards its goal of becoming one of the world’s top three manufacturers in its main fields of activity. Driven forward by its highly competent human resources and smart technologies, Şişecam is continuously transforming its digital infrastructure and corporate culture taking into account the needs of the future. With 86 years of experience and 24,000 employees, Şişecam conducts production activities in 14 countries on four continents and operates a sales network in more than 150 countries worldwide. Şişecam is moving forward on its growth journey in line with its Global Excellence strategy and powered by an inclusive approach that supports the development of its entire ecosystem. Şişecam takes responsibility for protecting the planet, empowering society, and transforming lives with its CareforNext strategy, which is compliant with and centered around the United Nations Sustainable Development Goals. Şişecam uses all its experience and competencies to promote sustainable development in every aspect.
