BAKU, Azerbaijan, January 20. The International Finance Corporation (IFC) has provided a €435 million financing package to Türkiye Şişe ve Cam Fabrikaları A.Ş. (Şişecam), a global leader in glass and chemicals, to support the upgrade of production facilities, refinance existing debt, and strengthen working capital, Trend reports via the IFC.
A key focus of the investment is the expansion of flat and solar glass manufacturing in Tarsus and Mersin, including the production of innovative solar glass designed to improve efficiency in renewable energy applications. The initiative also aims to enhance environmental, social, and governance (ESG) performance, with incentive-based targets tied to diversity in management and water efficiency improvements.
The financing was arranged by IFC with participation from a consortium of international banks, including ICBC, Emirates NBD, BNP Paribas, HSBC, Bank of Bahrain and Kuwait, ILX, and Standard Chartered.
In addition, IFC acted as anchor investor in Şişecam UK Plc’s new $500 million Eurobond, helping refinance upcoming debt and strengthen the company’s financial resilience following its $1.5 billion Eurobond issuance in 2024.
The package reinforces Şişecam’s global leadership in glass production and supports growth in renewable energy solutions.