📋 Tender Overview
Project ID: 56175
Status: Signed
Location: Türkiye
Business Sector: Manufacturing and Services
Notice Type: Private
Environmental Category: B
Approval Date: 26 Mar 2025
Disclosure date: 16 May 2025
Project Description
The transaction consists of an EBRD investment of up to USD 50 million in a Eurobond issuance of up to USD 300 million by Cimko Cimento ve Beton San. Tic. A.S. (the "Company" or the "Issuer").
Project Objectives
The proceeds of the Eurobond will (i) finance the Company's decarbonization investment program, (ii) refinance the Company's existing short and mid-term debt raised for the acquisition of Adana Port in October 2024, and (iii) issuance related transaction costs. In addition, the Project will support human capital development by introducing a new dual-learning internship programme to build core manufacturing skills in partnership with local education providers. Therefore, the Project aligns with the mitigation and adaptation goals of the Paris Agreement, Green Economy Transition ("GET") Approach, Strategy for Promotion of Gender Equality, Equality of Opportunity Strategy, and finally, Strategy for Türkiye 2024-2029 as it supports decarbonisation across sectors through direct engagement with private clients.
Transition Impact
ETI score: 67
The expected transition impact of the Project derives from the following two qualities: Primary Quality - Green: The Project will support the Company's decarbonization investment program. The program fully supports the green economy transition through the implementation of renewable energy sources and improvement in thermal efficiencies, as well as an increase in resource efficiency. GET share is 60%. Secondary Quality - Inclusive: The Project will introduce a new dual-learning internship programme in collaboration with local education providers, delivering core manufacturing skills in the cement industry.
