Summary of Proposed Investment
Project Number
4691
Company Name
KOCBANK A S
Date SPI Disclosed
Feb 9, 1996
Country
Turkiye
Industry
Financial Markets
Status
Completed
Sector
Commercial Banking - General
Department
Regional Industry FIG MCT
Environmental Category
FI
Previous Events
Approved : Mar 29, 1996
Signed : Jul 29, 1996
Invested : Aug 19, 1996
Project Description
Summary Of Project Information (SPI)
| Project Name | Turkey-KOCBANK Credit line and U.S. Commercial Paper Program |
| Region | Europe |
| Sector |
Projected Board DateApril 15, 1996
Company NameKOCBANK
Technical Partner and/or Major Shareholders
Koc Group, a leading Turkish group.
Project Cost Including proposed IFC investment
US$85 million, of which US$25 million will be for IFC’s own account and US$60 million will comprise the proceeds of a credit supported U.S. commercial paper (USCP) program.
Location of project and Description of site
Istanbul, Turkey
Description of Company and Purpose of Project
KOCBANK is a well-capitalized, medium-sized, commercial bank, wholly owned by the Koc Group. As of September 30, 1995, the bank had total assets of US$785 million equivalent and shareholders’ equity of US$133 million equivalent. The proceeds of the proposed financing package will be on-lent by the bank, to Turkish private sector companies, for pre-export finance and investment purposes.
Environmental Category and Issues
This is an environmental review category FI project. For relevant operations, KOCBANK will undertake an environmental review of each subproject.
Center.
| Date SPI sent to PIC | February 9, 1996 |
For Additional Information contact: Corporate Relations Unit -
telephone: (202) 473-7711
facsimile: (202) 676-0365
Sponsor / Cost / Location
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