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Türkiye: Proparco participates in cement producer Çimko’s bond issuance and strengthens its partnership with Sanko Group
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Proparco and DEG have subscribed to a USD 44.9 million tap issuance, bringing the total outstanding amount of Çimko’s 2030 maturity bond to nearly USD 390 million. This transaction illustrates Proparco’s commitment to supporting its clients in accessing international capital markets and advancing their sustainable transition.
Çimko, a leading company in the cement and concrete sector in Türkiye and a subsidiary of Sanko Group, completed an additional bond issuance of USD 44.9 million under its 2030 maturity bond. This additional tranche was subscribed by Proparco, the French development finance institution, and its German counterpart DEG.
This new issuance will be consolidated with the USD 300 million 2030 maturity bond issued in May 2025 and the USD 45 million 2030 maturity bond issued in February 2026, bringing the total size of the bond to approximately USD 389.9 million. It will carry the same terms and conditions as the existing bonds and will be traded under the same structure.
The success of this transaction reflects the confidence of European development finance institutions in Çimko’s financial strength and the quality of its corporate governance.
A strengthened partnership supporting the environmental transition
This participation marks a new milestone in the long-standing relationship between Proparco and Sanko Group, a leading Turkish conglomerate and a Proparco client since 2021. Following several transactions with other group subsidiaries, Proparco is now expanding its partnership to include Çimko, its cement business.
Through this investment, Proparco aims to support Çimko in its environmental transition, notably by financing investments in energy efficiency and decarbonization. The project will also contribute to the reconstruction of regions in southern Türkiye affected by the 2023 earthquakes by supporting the production of essential building materials.
More broadly, this transaction highlights Proparco’s ability to mobilize innovative financing solutions, including capital markets instruments, to support its clients’ long-term growth and transformation.
Steven Gardon, Regional Director for Eurasia at Proparco, said:
“This transaction reflects our commitment to supporting our long-standing partners over time by mobilizing financing solutions tailored to their needs, including in the capital markets. It is fully aligned with our strategy to support the low-carbon transition and the development of resilient infrastructure in key regions.”