BAKU, Azerbaijan, January 20. The International
Finance Corporation (IFC) has provided a €435 million financing
package to Türkiye Şişe ve Cam Fabrikaları A.Ş. (Şişecam), a global
leader in glass and chemicals, to support the upgrade of production
facilities, refinance existing debt, and strengthen working
capital, Trend
reports via the IFC.
A key focus of the investment is the expansion of flat and solar
glass manufacturing in Tarsus and Mersin, including the production
of innovative solar glass designed to improve efficiency in
renewable energy applications. The initiative also aims to enhance
environmental, social, and governance (ESG) performance, with
incentive-based targets tied to diversity in management and water
efficiency improvements.
The financing was arranged by IFC with participation from a
consortium of international banks, including ICBC, Emirates NBD,
BNP Paribas, HSBC, Bank of Bahrain and Kuwait, ILX, and Standard
Chartered.
In addition, IFC acted as anchor investor in Şişecam UK Plc’s
new $500 million Eurobond, helping refinance upcoming debt and
strengthen the company’s financial resilience following its $1.5
billion Eurobond issuance in 2024.
The package reinforces Şişecam’s global leadership in glass
production and supports growth in renewable energy solutions.
