The European Bank of Reconstruction and Development (EBRD) is to arrange a USD 32.5 million syndicated loan for the Turkish glass container maker Anadolu Cam, part of the Sisecam group.
The loan will…
The European Bank of Reconstruction and Development (EBRD) is to arrange a USD 32.5 million syndicated loan for the Turkish glass container maker Anadolu Cam, part of the Sisecam group. The loan will go to building a glass bottle plant in Ufa, the capital of Bashkortostan, a member republic of the Russian federation located in the southern Urals. The EBRD will itself provide USD 22.75 million of the loan and apply to other banks for the remaining USD 9.75 million. The total project cost is put at USD 65 million. This is not the first time the EBRD and Anadolu Cam have cooperated in Russia. In December 2004, the EBRD arranged a EUR 11 million seven-year loan for the Turkish company to retool the Pokrov glass plant. In addition, in September 2004 the EBRD loaned the factory USD 9.0 million.