EBRD agrees $95m loan to Turkey's Aksa Akrilik
The European Bank for Reconstruction and Development has arranged a long-term, multi-currency financing package worth almost $95 million for the Turkish acrylic producer Aksa Akrilik. The company's fibres and filaments are woven into synthetic fibre cloth, blankets, carpets and knitted wear and are sold domestically and abroad.
The loan, with a seven-year maturity, will support the development of new products and will enhance energy and resource efficiency at Aksa's production plant in Yalova, in north-western Turkey.
The new financing comes under the A/B loan structure and includes $50 million on the bank's own account (provided in US dollars and euros) and €30 million and $10 million syndicated to ING and the Bank of Bahrain and Kuwait, respectively.
