Şişecam has received the “Best Deal” award at the GTR Awards 2025 for successfully completing the world’s first Working Capital Note (WCN) transaction structured and financed as a Digital Negotiable Instrument (DNI), marking a significant milestone in trade finance innovation.

The transaction was designed to address the working capital needs created by varying payment terms across Şişecam’s multinational supplier network. By introducing a fully digital structure, the company has established a more efficient way to finance approved supplier invoices while strengthening liquidity management throughout its global supply chain.

The award-winning transaction represents the first phase of a broader programme targeting a total value of up to US$250 million. The initial tranche, valued at US$500,000, was financed by İşbank UK, demonstrating the viability of the digital financing model and laying the foundation for future issuances under the programme.

Implementation was completed in just 10 business days through the Faturalab platform, powered by ETR Digital’s Flownote™ technology. The digital infrastructure enables the rapid and secure issuance of negotiable instruments while integrating directly into Şişecam’s existing accounts payable processes. This allows financing activities to be carried out with minimal operational disruption while improving transaction speed and efficiency.

The structure also introduces greater flexibility in managing working capital assets by enabling them to move more efficiently between traditional trade finance solutions and capital markets. This approach provides additional funding options while supporting more effective balance sheet management.

By allowing approved supplier invoices to be settled earlier, the Working Capital Note model helps suppliers access liquidity sooner while enabling Şişecam to optimise payment terms without compromising supply chain stability. The transaction demonstrates how digital negotiable instruments can modernise working capital financing, improve operational efficiency and strengthen financial resilience across complex international supply chains.