Coca-Cola HBC Regulatory News (CCH)

1 Jun 2006 07:33

CCH International plc01 June 2006 Press Release 1 June 2006 CCH International Plc ("CCH" or "the Company") CCH agrees multiple financing facilities for Turkish group GISAD CCH International Plc (AIM: CCH), the trade finance group, today announces anumber of financing agreements. Sharia-compliant facility for GISAD Dis Ticaret A.S. CCH has reached agreement with GISAD Dis Ticaret A.S. ("GISAD") of Turkey toconclude a US$10 million three-year Sharia-compliant trade finance facility forGISAD to fund VAT receivables due from the Turkish government. CCH has acted asan agent of the Funder, an Islamic Bank located in the Gulf . This is the secondtranche of an existing US$20 million facility that was originally funded in2005. GISAD is a leading Turkish export trade company offering a wide range ofactivities and investments from raw materials to textiles to transportation,with total exports of its 800 partners reaching US$2.5 billion. Sharia-compliant facility for GISAD Arac Kiralama A.S. CCH has arranged a US$20 million Sharia-compliant financing facility for a GISADsubsidiary, GISAD Arac Kiralama A.S., which centrally manages vehicle parks,covering the purchase of cars for onward leasing to GISAD member companies. Thishas been jointly mandated with an Islamic GISAD Arac has also mandated CCH toincrease the overall facility to US$100 million once this US$20 million trancheis fully utilised. US$20 million financing facility for GISAD Faktoring A.S. Initial funding of US$6 million has also commenced under a US$20 millionfinancing facility for GISAD subsidiary, GISAD Faktoring A.S., which is a fullyequipped factoring company that offers the full range of trade finance productsand services. It is the intention to increase this facility amount to US$20million within six months. The facility will be used to finance a pool of localTurkish receivables insured for non-payment by a local Turkish insurancecompany. Ibrahim Ozdogan, Chairman of GISAD, said: "We are pleased to have entered intothese facilities with CCH. We increasingly look to CCH for innovative financialsolutions to our financing needs through CCH's ability to create flexible Shariacompliant financing solutions." Eren Nil, Managing Director of CCH International plc, commented: "We aredelighted to further strengthen our relationship with GISAD, one of Turkey'smajor exporters. As Ibrahim states, we are currently looking at several othertransactions with Gisad and I hope to be able to make similar announcementsabout these in the near future. This transaction shows our ability to concludemultiple transactions with one client." - Ends - For further information, please contact: CCH International Plc www.cch-international.comEren Nil, Managing Director/ Tel: +44 (0) 20 8334 0871Richard Fossett, Director and COOeren@cch-international.comr.fossett@cch-international.com Abchurch Communications www.abchurch-group.comHeather Salmond / Charlie Jack Tel: +44 (0) 207398 7700charlie.jack@abchurch-group.com Notes to editors - CCH International offers a range of finance products to institutions andcorporations wishing to raise finance or to sell on trade receivables eitherthrough conventional means or through its own internet based brokerage facilitywww.cch-etrade.com. The Company is listed on the Alternative Investment Market(AIM) of the London Stock Exchange. CCH International is also a specialist inIslamic Finance and has the ability to arrange for Morabaha, Ijara, Istisna andother compliant facilities. CCH International has offices in England, Germany and Bahrain, as well asstrategic partnerships / affiliates / relationships in Australia, UAE, Turkey,and the USA. Further information on the Company is available at www.cch-international.com. This information is provided by RNS The company news service from the London Stock Exchange