Ülker Bisküvi Announces $550 Million Eurobond Issuance

Turkey's leading food company, Ülker Bisküvi, has succesfully issued a 7-year eurobond with a nominal value of $550 million

Ülker Bisküvi*, Turkey's leading food company, has issued $550 million worth of 7-year eurobond abroad. The issuance, which has a maturity of seven years, was managed by J.P. Morgan Securities plc, Merrill Lynch International, Emirates NBD Bank PJSC, HSBC Bank plc, and Rabo Securities . This eurobond issuance garnered significant interest from more than 100 international investors across 20 various countries. Ülker Bisküvi intends to utilize the funds raised to refinance its existing eurobond debt.

Mete Buyurgan: “We have successfully completed our inaugural sustainability-linked eurobond issuance.”

Commenting on the eurobond issuance, Ülker Bisküvi CEO Mete Buyurgan said, “We are delighted to announce the successful completion of Ülker Bisküvi's and Turkey's first sustainability-linked eurobond issuance of 2024. We remain committed to adding value to our customers, consumers, stakeholders, and our country .Our eurobond issuance, which received strond demand, is a result of our successfully executed financial strategy and strong ties with investors. We extend our gratitude to the international investors who trust in our country and the strong financial structure of our company.,” he said.

Expressing that they continue their investments without slowing down, Mete Buyurgan evaluated Ülker Bisküvi's current performance as follows: “Under the umbrella of pladis, our goal is to make Ülker even stronger in production and exports. We are steadily advancing in gaining strength in global competition, maintaining and enhancing our position and leadership in the markets we operate in. We continue our sustainability efforts with our zero-waste company culture. We use innovation not only to expand our product range but also in many areas from digitization to product supply and strengthening our distribution network. With our production power, we will continue to deliver strong performance in the remaining months of 2024, contributing to our country, the economy, our employees, consumers, and all our stakeholders’’

The eurobond transaction is expected to be concluded on 8 July 2024, following the signing of the final related agreements and the approval of the issuance document application made to the Capital Markets Board.

*A subsidiary of pladis Foods Limited

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