Translated version of this PSD: Turkish
Project Description
The EBRD and commercial co-lenders are considering providing an up to TRY 120 million syndicated secured long-term loan to Turkasset Varlik Yonetim A.S., the largest non-performing loan (NPL) asset manager in Turkey.
Project Objectives
The operation will support Turkasset in further expanding its NPL purchases from financial institutions in Turkey and will enable the company to lengthen the maturity profile of its funding and to diversify its investor base.
Transition Impact
The transaction is the first syndication of an NPL asset management company in Turkey and will (i) provide funding for further portfolio purchases, thereby deepening the Turkish NPL market and (ii) introduce a new borrower asset class to international investors.
The Client
TURKASSET VARLIK YOENETIM A.S.
Established in 2008, Turkasset is the largest NPL and distressed asset management company in
Turkey with a 35 per cent market share, total assets of EUR 241 million and total equity of EUR 92
million as of end of 2015.
EBRD Finance
TRY 60,000,000.00
TRY 120 million secured long term loan to be syndicated to co-lenders.
Project Cost
TRY 120,000,000.00
Environmental Impact
Categorised FI. Turkasset Varlik Yonetim will be required to comply with the EBRD's Performance
Requirements (PR) 2,4 and 9 and submit Annual Environmental and Social Reports on the
implementation of the PRs to the Bank.
Technical Cooperation
None.
Company Contact
Olga Ucoz
Olga.ucoz@turkasset.com
+902123558000
https://www.turkasset.com/
Profilo Plaza B Blok Kat:1 Mecidiyekoy 34394 Istanbul Turkey
Business opportunities
For business opportunities or procurement, contact the client company.
For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com
General enquiries
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com
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Text of the PIP
