Tofaş İn Talks With Ebrd For A Loan Of 200 Million Euros

Turkish car maker Tofaş announced that the company has been in talks with the EBRD (The European Bank for Reconstruction and Development), in order to provide a loan amounted to 200 billion euros within the efforts to finance investment projects.

Tofaş has made a statement to the Public Disclosure Platform, declaring that in case of a sucess after talks, it is projected that 100 million euros will be maintained by the EBRD, remaining 100 million to be syndicated loan via to commercial banks.

The company had previously made a statement to the Public Disclosure Platform in April, stating its initial mandate for 200 million euros loan as follows:

"Our Company signed a mandate letter together with HSBC and ING Bank (SACE Lenders), amounting to 200 million euros, for the financing of the investment program related to the production and development of New Passenger Cars (Hatchback and Station Wagon). The loan agreement will be signed until the end of June 2015." - Istanbul