EBRD invests 40 million Turkish Liras in retailer Migros bonds
The European Bank for Reconstruction and Development (EBRD) announced on Feb. 26 that it has invested 40 million Turkish Liras ($ 7.54 million) in a 200 million lira bond issued by Turkey’s leading supermarket operator, Migros.
The new lira-denominated bond will be listed on Borsa Istanbul and its proceeds will reduce the company’s foreign currency exposure.
The bank said it remains committed to further expanding access to long-term lira funding for Turkish companies, making them more resilient to macro-economic vulnerabilities.
The EBRD is a leading institutional investor in Turkey and has invested over 11 billion euros in 283 projects in Turkey since 2009, with a focus on investment in sustainable energy, improving infrastructure, strengthening the competitiveness of the private sector, deepening capital and local currency markets, and promoting regional and youth inclusion and gender equality.