Is Finansal Kiralama A.S. (“Is Leasing
”) has successfully closed a US$30 and EUR40 million dual currency syndicated term loan facility (the “Facility
”). The Facility was signed on 06, March 2018. Bank ABC acted as the sole Coordinator on the transaction.
The transaction comprises of two 2-years and 5 days facilities, denominated in US dollars and Euros, which will be used for general corporate purposes.
Bank ABC and Emirates NBD Capital Limited acted as Initial Mandated lead Arrangers and Bookrunners on the Facility.
About Is Leasing
Is Leasing was founded as a partnership of International Finance Corporation (IFC), Societe Generale and Turkiye Is Bankasi AS (“Isbank”) in 1988, subsequent to which Isbank acquired the shareholding of its foreign partners in 1995, and listed the Company in 2000. Presently, c. 42.7% of Is Leasing’s shares are listed on Borsa İstanbul under the ticker symbol “ISFIN”. Isbank continues to hold a majority share of 57.3%, 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 2017, the Company achieved c. USD 601 million in transaction volume, maintaining its leading status in the Turkish leasing industry with a c. 9.7% market share.
Is Leasing has established a progressive financial track record and has preserved its consistent performance and healthy growth in 2017. It achieved c. 17.8.7% YoY growth in its leasing portfolio reaching at TL 4.7 billion, primarily driven by an asset growth of 24% to TL 9.3 billion resulting in a robust bottom line with a consolidated Net Profit of TL 123.7 million along with 17.4% growth in shareholders’ equity accounted at TL 975 million.
Is Leasing is rated BB+ (Stable) by Fitch Ratings.