Ülker’s Sindication was selected as “Transaction of the Year” by Euroweek
The winners of the Finance Awards organized by Euroweek, an England based international financial markets publication, for the 10th time this year received their awards in London. In the finance awards, which are determined by international investors, credit obtaining organizations, special capital boards and banks, the Ülker syndicate was chosen as the “Transaction of the Year” among international loan transactions by Turkish companies in 2012.
Euroweek is an influential magazine, published since 1987, which is followed closely by investors and financial institutions all over the world. The magazine, which follows global financing markets, rewards the most successful financial transactions in the world. The reward process is not done by application. All of the banks, intermediary organizations and companies that have made transactions in the relevant year participate with the one vote they have earned. The short list that is formed as a result is voted on again by the 30 biggest banks. This distinction makes the Euroweek Awards the only reward program in which the winners are selected completely by market participators.
In 2012 81 international transactions made from Türkiye resulted in the borrowing of 32.7 billion in loans. Euroweek chose the Ülker syndicate as the most successful transaction done in Türkiye. The syndication which Ülker concluded in November 2012 had received twice as much demand from international banks.
14 banks, 11 of which had never had a credit relationship with Ülker before, had participated in the syndicate realized under the leadership of Bank of America Merrill Lynch. For some of these banks the Ülker syndicate was the first loan given to a Turkish company. The banks that had participated in the syndicate were: Bank of America, Rabobank, Byblos Bank, The Commerical Bank of Qatar, JP Morgan Chase, Bank Audi, HSBC, Emirates NBD Bank, Barclays, Fortis, Natixis, British Arab Commercial Bank, Ahli United Bank Deutsche Bank Luxembourg SA.
“A positive sign for syndicates in the future”
Dr. Cem Karakaş, the CFO of the award receiving Yıldız Holding said “The relationships we started with the syndicate credit established a good foundation for the new business relationships that Ülker will be forming with foreign financial institutions in the future. The large demand that responded to the syndicate and the interest that Yıldız Holding sparked in international markets and the conclusion of the syndicate process with higher than expected success appear to be proof of the trust that has been established”.
In addition to the Middle East, Africa and Europe, which are its main markets, Yıldız Holding attracts the attention of international investors and financial institutions with the increase of activity in Northern America and the Far East with Godiva operations. Thanks to this attention that has developed in the international arena half of the request to meet came from a total of 40 banks, half in Asia and the Middle East and half from European based banks.
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