Turkey / Insurance for Surface Treated Steel Sheet Plant Construction Project

March 2, 2015

Nippon Export and Investment Insurance

Nippon Export and Investment Insurance (NEXI) has decided to provide insurance for loans used for the construction of a manufacturing plant of cold rolled steel sheet and surface treated steel sheet by Tosyali Toyo Steel Co. Inc. ("Tosyali Toyo"), a joint venture established between Toyo Kohan Co., Ltd. ("Toyo Kohan") of Japan and Tosyali Holding A.S. of Turkey in Osmaniye Province, Turkey.


The loans are provided by Sumitomo Mitsui Banking Corporation ("SMBC") and Japan Bank for International Cooperation ("JBIC") through Yapi ve Kredi Banksai A.S., a local bank in Turkey. NEXI's insurance will be provided for the loans by SMBC.


The economic growth in Turkey has increased the demand for cold rolled steel sheet and surface treated steel sheet for making food and industry container cans and construction materials. Through Tosyali Toyo , Toyo Kohan aims to expand its steel sheet manufacturing and sales operations in Turkey and neighboring countries. The loans by the Japanese banks will offer a financial support to Toyo Kohan's Turkish operations and will also help the Japanese manufacturing industry maintain and strengthen international competitiveness.


NEXI will continue to support overseas business of Japanese companies.


Lender (Insured) Sumitomo Mitsui Banking Corporation
Insured Amount USD 60.69 million
Covered Risk Political Risk 97.5% and Commercial Risk 90.0%
Tenor 10 years