Friday, May 16, 2008

Glassmaker Sisecam secures USD 40mn loan for investment in Russia.

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Glassmaker Sisecam secures USD 40mn loan for investment in Russia. The leading glassmaker Turkiye Sise ve Cam Fabrikalari (Sisecam) informed the Istanbul Stock Exchange that it secured a USD 40mn loan from the International Finance Corporation (IFC). According to Sisecam, the loan will be utilised by the company’s subsidiary in Russia , Posuda LLC, which will invest in a second furnace. The loan will mature in 7 years including a grace period of 2 years. Sisecam and another group company Pasabahce Cam are guarantors of the loan. Sisecam acquired the Russian glass tableware producer Posuda in 2004.

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Glassmaker Sisecam secures USD 40mn loan for investment in Russia.

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