IFC considers investment in Turkey´s Ronesans holding

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IFC considers investment in Turkey´s Ronesans holding

The International Finance Corporation (IFC), a member of the World Bank, is mulling to invest in Ronesans Holding, one of Turkey’s largest construction and infrastructure companies.

To be more specific, IFC is considering to invest up to US$215 million in the form of either equity, quasi-equity, quasi-loan or loan in Ronesans Holding A.S. It is expected that IFC’s investment will help to finance the Group’s corporate funding needs for:

  • Turkish healthcare PPPs and real estate operations,
  • its expansion plans into new emerging markets including Africa, Middle East and Caucuses and
  • strengthening its presence in infrastructure segment of the construction business across regions

Last month, we reported that Rönesans Holding issued its first Turkish lira-denominated floating-rate bonds of three-year maturity. The European Bank for Reconstruction and Development (EBRD) invested TL100 million (US$35 million) in the TL200 million (US$70 million) bond issuance. It was part of a larger TL500 million bond programme of which two-thirds have already been issued. 

Headquartered in Ankara, Ronesans Group through its contracting arm, performs construction activities as a contractor in 17 countries: Turkey, Russia, Turkmenistan, Kazakhstan, Belarus, Gabon, Austria, Germany, Netherlands, Finland, Sweden, Switzerland, Azerbaijan, Nigeria, Iraq, Qatar and Mozambique. The firm owns real-estate assets in Russia and Turkey and energy assets in Turkey. It is also an investor in PPP hospitals in Turkey.

List of country news

Country news

  • February 03, 2016

    Ronesans Holding issues Turkish lira-denominated bond

    Rönesans Holding, one of Turkey’s largest construction and infrastructure companies, has issued its first Turkish lira-denominated floating-rate bonds of three-year maturity. Read more
  • January 14, 2016

    Financial close reached for Etlik Integrated Healthcare Campus in Turkey

    Commercial closure was achieved in June 2015, while financial closure progress slower due to the unstable political climate in Turkey following general election. Read more
  • December 28, 2015

    Islamic Development Bank (IsDB) enters into PPP Hospital Market in Turkey

    Jeddah based Islamic Development Bank (IsDB) has announced it has recently approved its debut financing for PPP Hospital Sector in Turkey with the financing of the Konya PPP Hospital. Read more
  • August 11, 2010

    Deadline for Ankara Bilkent Integrated Health Campus's pre-qualification, today August 11th. Hospitals in Turkey I

    This time is Turkey, I know about the Turkish efforts to join the European Union. Does Turkey belong to Europe or to the Middle East? It depends if you consider the geographical, political or cultural point of view. Read more
  • September 01, 2010

    Health PPP projects in Turkey. Some decisions coming up. Hospitals in Turkey II

    On Augusts 11th we wrote about the prequalification process for the Ankara Bilkent Integrated Health Campus PPP project. This health project with private participation is the third one launched in Turkey and thr RFQ stage closed that same day. Read more

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