SYNDICATION LOAN FROM INTERNATIONAL BANKS TO ÜLKER BİSKÜVİ
Ülker Bisküvi, together with international banks, Signs syndicated loan agreement worth $195 million.
Ülker Bisküvi signed a syndication loan agreement worth US$ 195 million.
The syndication loan composed of two syndication trancghes which are 35 million USD and 150 million EURO s, where 20 percent of this loan is supplied via murabaha financing, and it is the first Sustainability linked loan of Ülker Bisküvi with a maturity of 3 years totaling USD 195 million.
The signed agreement was signed by Bank of America, Coöperatieve Rabo Bank U.A. and Emirates NBD Bank Capital Limited; It was held with the participation of JP Morgan Chase Bank, N.A and Sharjah Islamic Bank PJSC.
The agreement was signed in order to finance the repayment of Üker Bisküvi's 375 million USD syndicated loan, which was due in April 2023, and to strengthen its financial stability, short and medium-term strategies. The remaining portion of the loan, which is due in April 2023, will be paid using the company's cash resources.
Ülker Bisküvi CEO Mete Buyurgan stated that they have reduced Ülker Bisküvi's current indebtedness level with this syndicated loan: “The world and our country are going through a sensitive and difficult period. As Ülker Bisküvi, we maintain our strong position in the markets in which we operate with our solid finace structure, and we continue to produce for our country and our people in this period. Despite the difficult economic conditions in the world, it is more important than ever for our company to provide long-term financing with the participation of international banks. These agreements are an indication of the trust of international banks in our country and our company.
The first sustainability-linked loan signed
Stating that this is the first agreement signed within the scope of Ülker's sustainability strategy, Mete Buyurgan concluded his words as follows:
“Since the day we were founded in 1944, we have been operating with the 'zero waste company' model. We base our sustainability efforts on the United Nations' 2030 Sustainable Development Goals so that they can be monitored and audited around a strategy. We continue our sustainability approach, which we follow in all our processes, in the field of sustainability-related financing as well.”
-
.jpg)
Ülker Supports “Atalık Kavılca” Wheat with Limited Edition Product
Ülker, a leading food company in Türkiye known for its commitment to sustainable raw material sourcing, has introduced a limited edition product called "Saklıköy Kavılca Buğday," made with Atalık Kavılca Wheat, one of Anatolia's oldest agricultural products with a history dating back 13,000 years....
CLICK FOR MORE -
.png)
Ülker invest in supplementary food products
A new brand from Ülker: Everwell Ülker, which stepped into the food supplement industry for the first time with "Pastil", further strengthens its claim in this category with the "Everwell" brand. Food supplement products developed by Ülker in cooperation with TÜBİTAK and released under the Everwell brand will be sold with a widespread distribution strategy....
CLICK FOR MORE -
Ülker's 2022 Sustainability Report has been published
Ülker, operating with a waste-free company model since established, has published its 2022 Sustainability Report. Ülker meets approximately 43% of its electricity consumption from renewable sources, and has initiated a carbon management program that encompasses the entire value chain, from sustainable raw material sourcing to packaging management, logistics, and waste recycling. The company continues its efforts to control greenhouse gas emissions in all areas with the goal of becoming a "net zero company by 2050. ...
CLICK FOR MORE -
Ülker announced its first half-year financials
Ülker Bisküvi closed the first half of 2023 with a sales revenue of 19.6 billion TL. The share of Turkiye operations in the sales revenue was 66%; while, the share of export and international operations in the sales was 34% ...
CLICK FOR MORE