Şişecam's first-ever Digital Working Capital Note transaction has been awarded the “Best Deal" accolade at the GTR Awards 2025.
A global player in the glass and chemicals sectors, Şişecam has advanced its pioneering approach to financial innovation with another milestone achievement. The company successfully executed the world's first Working Capital Note (WCN) transaction structured and financed as a Digital Negotiable Instrument (DNI).
Developed to address working capital requirements arising from varying payment terms across Şişecam's multinational supply chain, the structure was recognised with the “Best Deal" award at the prestigious GTR Awards 2025, a leading platform for international trade finance.
As the first step of a global programme targeting a total size of up to US$250 million, the initial US$500,000 tranche of the transaction was financed by İşbank UK.
The solution was implemented using the Faturalab platform infrastructure and ETR Digital's Flownote™ technology and was deployed within just 10 business days. The structure enables the rapid, secure and efficient issuance of digital negotiable instruments, while integrating seamlessly into existing accounts payable processes to enhance operational efficiency. It also allows working capital assets to be managed more flexibly and efficiently between trade finance and capital markets.
This model enables the early settlement of approved supplier invoices, allowing Şişecam to optimise its payment terms. This supports balance sheet management while playing a strategic role in strengthening liquidity across the supply chain.
About Şişecam
Şişecam is a story of progress...
Founded in 1935 by İş Bankası with the vision, Şişecam was established to build Türkiye's glass industry. Over the decades, Şişecam has grown from a local initiative into a global player in glass and chemicals.
As the only global company operating in all core areas of glass production, Şişecam is one of the world's top five producers in its sectors.
Şişecam operates across four continents and 13 countries, including Türkiye, Italy, Bulgaria, Romania, Slovakia, Hungary, Bosnia and Herzegovina, Russia, Georgia, Ukraine, Egypt, India, and the United States. Şişecam plays a pioneering role in flat glass, glassware, glass packaging, chemicals, auto glass, glass fiber, mining, energy, and recycling industries. By placing innovation and technology at the core of its operations, Şişecam delivers its products to customers in over 150 countries through its robust supply chain.
Şişecam makes a meaningful difference in its industries with 90 years of expertise, a skilled workforce, and the use of smart technologies. Supported by more than 22,000 employees, Şişecam is steadily advancing toward its goal of becoming one of the top three global producers in its core industries.
With its CareForNext strategy, Şişecam works to ensure the sustainability of the glass and chemicals industries from the perspectives of protecting the planet, empowering communities, and transforming lives in line with the United Nations Sustainable Development Goals.
Şişecam is pursuing a better future through technology and innovation and continues its story of progress together with its entire ecosystem.
Learn more: www.sisecam.com