The issue, which bore 3.875% coupons
and had 4.025% yields, was completed
on 7 November 2012. The bonds issued
generated demand that was almost five
times the amount issued. Quoted on the
London Stock Exchange, the bonds bear
credit ratings of Baa2 (Moody’s) and BBB-
(Fitch) on the date of issue.
THROUGH ITS DIVERSIFIED PAYMENT
RIGHTS SECURITIZATION PROGRAM,
İŞBANK GENERATED FUNDS
AMOUNTING TO USD 225 MILLION AND
EUR 125 MILLION.
Under the securitization program based on
its diversified payment rights set up in 2004,
the Bank finalized a new securitization deal
amounting to USD 225 million and EUR 125
million on 28 June 2012. The tranche of the
securitization deal amounting to EUR 125
million was obtained from the European
Bank for Reconstruction and Development
(EBRD) and from the European Investment
Bank (EIB). It will be used towards financing
energy efficiency and renewable energy
projects within the scope of the Turkish
Mid-size Sustainable Energy Financing
Facility (MidSEFF). The tranches of the
securitization deal denominated in EUR have
a final maturity of 12 years; and those in
USD have a final maturity of 5 years.
İŞBANK AND KREDITANSTALT FÜR
WIEDERAUFBAU (KfW) SIGNED A
SUPPLEMENTARY LOAN AGREEMENT
TO PROVIDE FINANCING TO SMALL
ENTERPRISES.
On 19 December 2008, İşbank and KfW
Entwicklungsbank (German Development
Bank) signed a framework agreement
covered by the European Union’s Small
Enterprises Loan Programme 2. Phase (SELP
II). In addition to funds worth EUR 55 million
provided in the earlier years under the
agreement, an additional fund was secured
to be used for funding small enterprises
within the scope of a supplementary
agreement signed on 23 July 2012 for the
provision of a 5-year loan in the amount of
EUR 5.71 million.
In 2012, İşbank secured a number of long-
term, special purpose loans within the
scope of its relationships with international
development and investment banks. These
loans represent important resources for the
Turkish economy as well as for İşbank.
THE WAY IS PAVED FOR FURTHER
COOPERATION WITH THE JAPAN BANK
FOR INTERNATIONAL COOPERATION
(JBIC).
The agreement signed on 5 October 2012
between JBIC and İşbank for a loan in the
amount of USD 100 million with a maximum
term of 18 years, for use in renewable
energy projects, represents the first credit
line allocated to Turkey by JBIC in this area.
Under the agreement signed on the same
date between JBIC and İşbank for USD 200
million, a credit facility with a maximum
term of 10 years is provided for financing
exports from Japan to a number of countries
including Turkey.
İŞBANK HOSTED THE TRADE FINANCE
FORUM ORGANIZED BY THE EBRD.
For the fourth time, İşbank was the host of
the Trade Finance Forum organized by the
EBRD on 26-28 September 2012.
The forum serves as a platform that
brings key market players together and on
which future expectations as well as the
current situation in trade finance can be
discussed. Special sessions dealing with
Turkey, the Russian Federation, Belarus,
and the Central Asian, Balkan and Caucasus
countries were among the highlights of this
year’s forum. Forum participants included
representatives from banks and financial
institutions, economics and financial media
organizations and real sector firms active in
Turkey as well as in other countries.
İŞBANK AND ITS ACTIVITIES IN 2012
IN 2012, İŞBANK SECURED
A NUMBER OF LONG-
TERM, SPECIAL PURPOSE
LOANS WITHIN THE SCOPE
OF ITS RELATIONSHIPS
WITH INTERNATIONAL
DEVELOPMENT AND
INVESTMENT BANKS.
50
İŞBANK
ANNUAL REPORT 2012
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