The Mezzanine Loan to Kiliç Deniz (“Kiliç”), the Leading Turkish Aquaculture Company, is the Fund’s First Investment in Turkey.
Istanbul – May 18, 2009 –NBK Capital announced today that its NBK Capital – GSC Mezzanine Fund I (the “Fund”) has completed its first transaction in Turkey by providing a $15 million mezzanine loan to Kiliç Deniz (“Kiliç”), the leading aquaculture company in Turkey and one of the largest in the eastern Mediterranean region.
Kiliç is the fourth largest producer of fish in the eastern Mediterranean region. As a vertically integrated company, Kiliç also produces juvenile fish and fish feed. In addition, the company exports its high quality products throughout Western Europe, and continues to seek out new markets in Eastern Europe and the Middle East. The mezzanine loan will be used to support the growth plans of the company.
Amjad Ahmad, Senior Managing Director of Alternative Investments at NBK Capital, said, “The investment in Kiliç highlights our continuing commitment to partner with companies that are positioned to succeed in the dynamic Turkish market. Walid Cherif, Senior Director, Alternative Investments - Mezzanine, “We believe mezzanine debt provides a degree of flexibility generally unavailable in the marketplace, which is both timely and extremely valuable to healthy mid-market companies, as in the case of Kiliç. Kiliç has successfully consolidated its market leader status and continues to do so.”
"We are thrilled to be partnering with a reputable investor – and a pioneer in mezzanine lending in the region - which has shown its confidence in our company by providing growth capital during a tumultuous time in the world economy" said Orhan Kiliç, Chairman of Kiliç Deniz. "Not only will the fund’s financial support provide the means for us to achieve our growth targets, but also, as an institutional investor, they will provide the impetus to continue to build Kiliç Deniz into a world-class company. “
NBK Capital-GSC Mezzanine Fund I is a MENA and Turkey focused mezzanine debt fund established in 2008. The Fund is managed by NBK Capital and GSC Group to make mezzanine investments in a variety of transactions including leveraged buyouts, refinancing, recapitalizations and growth financing. The Fund provides mezzanine financing for private equity-backed transactions as well as to mid-market companies.
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About NBK Capital
NBK Capital was established in July 2005 as a subsidiary of the National Bank of Kuwait (NBK), one of the region’s oldest and highest rated banks. NBK Capital focuses on four principal lines of business: Alternative Investments, Asset Management, Brokerage & Research and Investment Banking. With offices in Kuwait, Dubai and Turkey, NBK Capital’s team of more than 150 professionals offer superior products and services to clients and investors.
NBK Capital is proud to have been recently awarded “Best Investment Bank in Kuwait” by Global Finance magazine, a prestigious financial services publication.
www.nbkcapital.com.
About Kiliç Deniz
Kiliç Deniz is the leading vertically integrated aquaculture company in Turkey producing seabream, seabass and rainbow trout. Kiliç Deniz also produces juvenile (adolescent) fish for internal use as well as external sales and fish feed, under the Aqua K brand. With over 300 cages and the largest global capacity for juvenile production, the Company produces healthy, fresh, processed and unprocessed fish and fish related products.
www.kilicholding.com.tr
