Is Finansal Kiralama A.S. (“Is Leasing”) or the (“Company”) has mandated Bank ABC as
Coordinator, Initial Mandated Lead Arranger and Bookrunner to arrange on its
behalf a US$75 million 2-year and 5-day dual currency (US$/EUR) syndicated term
loan facilities (the “Facility”). The Facility will be used by Is Leasing
for general corporate purposes.
The Facility is expected to be signed by mid-January 2018.
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.
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 2016, the Company achieved c. US$ 562 million
in transaction volume, maintaining its leading status in the Turkish leasing
receivables industry with a c. 9.5% market share.
Is Leasing has
established a progressive financial track record and has preserved its
consistent performance and healthy growth in 2016. It achieved c. 21.7% YoY
growth in its leasing portfolio reaching at TL 4 billion, primarily driven by
an asset growth of 34% to TL 7.5 billion resulting in a robust bottom line with
a consolidated Net Profit of TL 103.6 million along with 12.4% growth in
shareholders’ equity accounted at TL 830 million.
Is Leasing is rated BB+
(Stable) by Fitch Ratings.
Bankası A.Ş is the largest private bank in Turkey and has integrated network
with widespread branch coverage and innovative alternative delivery channels.
Türkiye İş Bankası A.Ş is rated Ba1 by Moody’s, BB+ by Fitch Ratings and BB by