For the financing of Çekmeköy-Sancaktepe-Sultanbeyli Metro Line project, totally 75 million USD and 20 million EUR was provided under a single package consisting of murabaha and conventional tranches where 4 foreign banks committed.

The five-year syndicated term facility with its hybrid structure combining both murabaha and conventional tranches in dual currencies, marks the first step for IMM’s entry into the dual currency Islamic syndicated loan market, setting a precedent for its future financing and a new benchmark in the Turkish municipal finance market. With this new financing, we continue our work without interruption to put the Çekmeköy-Sancaktepe-Sultanbeyli metro line into service for İstanbulites as soon as possible.