A cooperation agreement led by Borsa İstanbul to be signed to facilitate SMEs’ access to finance

In order to facilitate access to finance by approximately 3.5 million Small and Medium Sized Enterprises (SME), a protocol will be signed for the collective bond issue by SMEs for the first time in Turkey and Europe in cooperation with Turkish Capital Markets Association, Ziraat Portföy A.Ş., Ak Portföy Yönetimi A.Ş., Akbank T.A.Ş., Finans Portföy Yönetimi A.Ş. and  Finansbank A.Ş., under the leadership of Borsa İstanbul.

As part of the Coordination Council for the Improvement of Investment Environment’s action plan to allow SMEs to benefit from capital markets instruments, the bonds to be issued by SMEs that have been independently audited and graded as investable will be acquired by venture capital funds to be founded by portfolio investment companies.

In the first offering planned for 2015, approximately 100 SMEs are expected to raise funds of TL 300 to 500 million with a maturity of longer than one year. Small and Medium Enterprises Development Organization (KOSGEB) and Credit Guarantee Fund (KGF) are working to be a part of the project. The signing ceremony for the cooperation protocol by the above mentioned banks, portfolio management companies and Turkish Capital Markets Association under Borsa İstanbul’s lead will be held at 10:00 on April 16, 2015.

The ceremony will be held at Borsa İstanbul campus with the participation of Borsa İstanbul CEO Tuncay Dinç and the senior executives of the stakeholders.