ICA İçtaş issued 405 million dollars value of project bonds!

ICA İçtaş Altyapı A.Ş. (ICA), a group company of IC Holding, has completed the issuance of USD 405 million worth of Project Bonds for the Sarıyer-Kilyos Tunnel, a Public-Private-Partnership (PPP) project.

The bond has an annual coupon rate of 7.536% and is structured with a maturity of October 31, 2027.

All of the funds to be raised from the bond, which was prepared for international investors, will be used for the construction of the project. IC İçtaş Construction will undertake the construction of the Sarıyer-Kilyos Tunnel.

İsmail Birkan Özen, CFO of IC Holding, said: “We hope that the Sarıyer-Kilyos Tunnel project, which is very important in terms of demonstrating our vision of providing long-term and sustainable investments in infrastructure projects in Turkey, will serve as a model for similar investments in the future. With the bond issuance, which we plan to utilize in the financing of different projects to be undertaken by our Group, we aim to realize our new activities that require a high amount of investment.”