DEG, OeEB, BSTDB and Cordiant Invest US$69 Million in Hayat Kimya Sanaki (CEE and CIS)
Posted On: 19 Dec 2016 | Source: DEG
German development finance institution DEG has arranged EUR66 million (approximately US$69 million) in debt financing for Turkey-based household goods and hygienic products manufacturer Hayat Kimya Sanaki. Co-financers include emerging markets-focused private credit fund manager Cordiant Capital, the Development Bank of Austria (OeEB) and the Black Sea Trade and Development Bank (BSTDB). DEG provided a long-term loan of EUR25 million (approximately US$26 million) to Hayat as part of the financing package. The company will use the new capital to fund its new production line for nonwoven fabrics in Egypt and has already invested in new production lines at its Turkish manufacturing complex.