High Appetite for Turkish Beverage Giant from Foreign Investors

Press Release Sep 16, 2017

High Appetite for Turkish Beverage Giant from Foreign Investors

CCI’s recent USD 500 million Eurobond issue with a 7-year maturity attracted high demand from foreign investors. Commenting on the issue, with a demand of over USD 4.5 billion from more than 300 investors, CCI CEO Burak Başarır said: "Our Eurobond issue which is nine times oversubscribed, has confirmed the confidence of foreign investors in our country".

Coca-Cola İçecek (CCI), whose major shareholder is the Anadolu Group, operating in Turkey, the Middle East, Central Asia and Pakistan with 25 plants and more than 10,000 employees, successfully priced a Eurobond issue of USD 500 million with a seven year maturity and fixed coupon rate of 4.215%. More than 300 investors, primarily from the United States and the United Kingdom, but also from countries like Switzerland and Germany, showed a high demand for the issue, resulting in approximately nine times oversubscription. The oversubscription was clear evidence of foreign investors’ confidence in Turkey. The issue was managed by a group of banks that consisted of BNP Paribas, Citigroup Global Markets Limited, HSBC Bank PLC, J.P. Morgan Securities PLC and MUFG Securities EMEA PLC.

CCI CEO Burak Başarır stated that the cash generated will be used for investments in Turkey and international operations as well as for refinancing certain existing indebtedness. He said: "We realized a landmark Eurobond issuance, with one of the lowest interest rates among Turkish corporates in recent years. The issuance has been oversubscribed by nine times, with more than 300 investors. The level of interest shown in our company is clear evidence that foreign investors have full confidence in Turkey. Likewise, we continue our investments at full speed with absolute confidence in our country. Our new Isparta plant inaugurated last month is just one example".

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