A long-term senior secured syndicated loan of up to EUR 45 million to the Turkish producer of dried fruits, nuts and seeds, Peyman Kuruyemis Gida San. ve Tic. A.S.
The proceeds of the transaction will be used to support the company's investment programme including the new production facility investment and capex for 2017, working capital requirements and partial refinancing of the shareholder loan.
The loan will finance Peyman Kuruyemis's investment in a new factory as the company is launcing new products and expanding into new markets.
The transition impact of this project is expected to be primarily derived from market expansion through backward linkages to local farmers and transfer and dispersion of skills.
The company is the second largest producer of dried fruits, nuts and seeds with highly recognised brands in Turkey.
EBRD Finance Summary
Total Project Cost
Up to EUR 25,000,000
Environmental and Social Summary
Categorized B (ESP 2014). The processing, packaging and sale of dried fruit, nuts and seeds is associated with specific environmental and social issues which can typically be addressed through well understood mitigation measures. Key environmental and social issues are anticipated to be those standard to the food industry including management of food hygiene, water use and waste water disposal, energy use, solid waste disposal and occupational health and safety. The company is certified to a number of best practice management systems including ISO 9001, ISO 22000, ISO 140001, Halal Food and BRC and it is currently working on getting the Ecocert and ISO 26000 certifications. Environmental and social due diligence for this project will commence with the completion by the company of the Bank's standard environmental and social due diligence questionnaire. The Bank's Environment and Sustainability Department will liaise with the project team following review of the questionnaire to agree what further due diligence may be required.
Company Contact Information
Gunes Soyturk (CFO)
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