The European Bank for Reconstruction and Development (EBRD) has subscribed to $40 million of a $250 million bond listed on the Luxembourg Stock Exchange by Turkish agribusiness, Yasar Holding. Yasar Holding is one of Turkey’s major agribusiness groups with a product line of over 1,000 processed meats, dairy products, spring water, compound feed and fertilizers, and coatings. The group consists of over 20 companies and operates 20 factories with over 1,500 distributors and 200,000 points of sale. Since 2009 when it started investing in the country, Turkey has been a priority for the EBRD. Within the past five years, the ERBD’s Turkish portfolio has become one of the bank largest. To date, the bank has invested €4 billion across 126 projects involving agribusiness, infrastructure, energy, industry, and finance. The funds raised through the bond placement will help Yasar Holding diversify its investor base, and it is hoped it will encourage other Turkish entities to raise funds in a similar way.
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