Mersin port operator - Mersin Uluslararası Liman İşletmeciliği A.Ş. in Turkey has issued a bond to raise funds for operations and new investments. The US$ 600 million five year bond is backed by the European Bank for Reconstruction and Development (EBRD). To attract investors, EBRD has backed the bond by investing US$ 90 million in the issuance.

The proceeds of the bond will help refinance Mersin International Port’s 2013 bond, which matures in August 2020, will support ongoing operations of the port and will provide additional stability to the company’s balance sheet while also financing general corporate needs. The continued financing of existing investments is crucial for the company’s ability to run operations smoothly and pursue further growth.

Mersin International Port is a major investment by international players in Turkey. It is owned by PSA International, IFM Global Infrastructure Fund and Turkey’s Akfen Holding.

Located on the southeastern coast of Turkey in the city of Mersin and close to Adana, both of which are large regional cities, Mersin International Port is Turkey’s largest port terminal by tonnage and by import/export container throughput.

With 85 percent of Turkish international trade being seaborne, developing the Mersin International Port – the gateway of the Turkish industry and agriculture to the Middle East – is crucial for the country’s economy, and will also support growth in the wider region.

Enhanced port infrastructure also helps transform shipping into a more environmentally friendly alternative to land transport. Financing sustainable infrastructure and Turkey’s shift to a green economy are among the EBRD’s priorities in the country. The Bank also supported the Mersin port’s 2013 issuance, which was the country’s first infrastructure bond.