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:
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.