MANAMA - Is Finansal Kiralama has mandated Bahrain-based Bank ABC as coordinator, initial mandated lead arranger and bookrunner to arrange on its behalf a $75 million two-year and five-day dual currency (US dollar/euro) syndicated term loan facilities.
A statement said the facility is expected to be signed by mid-January 2018 and will be used by Is Leasing for general corporate purposes.
Is Leasing was founded as a partnership of International Finance Corporation, Societe Generale and Turkiye Is Bankasi AS in 1988, subsequent to which Isbank acquired the shareholding of its foreign partners in 1995, and listed the company in 2000.
Presently, about 42.7 per cent of Is Leasing’s shares are listed on Borsa Istanbul under the symbol ISFIN.
Isbank continues to hold a majority share of 57.3pc, along with full management control over the company.
Headquartered in Istanbul, Turkey, Is Leasing is one of the pioneers in the Turkish leasing sector, primarily providing leasing services via an established network of 15 branches across the country.
In 2016, the company achieved around $562m in transaction volume, maintaining its leading status in the Turkish leasing receivables industry with around 9.5pc market share.
Is Leasing has established a progressive financial track record and has preserved its consistent performance and healthy growth in 2016.
It achieved 21.7pc year-on-year growth in its leasing portfolio reaching at four billion Turkish lira (TL), primarily driven by an asset growth of 34pc to TL7.5bn resulting in a robust bottom line with a consolidated net profit of TL103.6m along with 12.4pc growth in shareholders’ equity accounted at TL830m.
Is Leasing is rated BB+ (Stable) by Fitch Ratings.
Türkiye Bankas is the largest private bank in Turkey and has integrated network with widespread branch coverage and innovative alternative delivery channels.
Türkiye Bankas A is rated Ba1 by Moody’s, BB+ by Fitch Ratings and BB by S&P.
A statement said the facility is expected to be signed by mid-January 2018 and will be used by Is Leasing for general corporate purposes.
Is Leasing was founded as a partnership of International Finance Corporation, Societe Generale and Turkiye Is Bankasi AS in 1988, subsequent to which Isbank acquired the shareholding of its foreign partners in 1995, and listed the company in 2000.
Presently, about 42.7 per cent of Is Leasing’s shares are listed on Borsa Istanbul under the symbol ISFIN.
Isbank continues to hold a majority share of 57.3pc, along with full management control over the company.
Headquartered in Istanbul, Turkey, Is Leasing is one of the pioneers in the Turkish leasing sector, primarily providing leasing services via an established network of 15 branches across the country.
In 2016, the company achieved around $562m in transaction volume, maintaining its leading status in the Turkish leasing receivables industry with around 9.5pc market share.
Is Leasing has established a progressive financial track record and has preserved its consistent performance and healthy growth in 2016.
It achieved 21.7pc year-on-year growth in its leasing portfolio reaching at four billion Turkish lira (TL), primarily driven by an asset growth of 34pc to TL7.5bn resulting in a robust bottom line with a consolidated net profit of TL103.6m along with 12.4pc growth in shareholders’ equity accounted at TL830m.
Is Leasing is rated BB+ (Stable) by Fitch Ratings.
Türkiye Bankas is the largest private bank in Turkey and has integrated network with widespread branch coverage and innovative alternative delivery channels.
Türkiye Bankas A is rated Ba1 by Moody’s, BB+ by Fitch Ratings and BB by S&P.
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