Şişecam's Bond Issuance Wins Awards in Three Categories from Global Banking & Markets

Foreks - Şişecam (IS:SISE) has won the awards for "Bond Issue of the Year," "Corporate Bond Issue of the Year," and "Debt Deal of the Year - Turkey" at the Global Banking & Markets: CEE, CIS & Turkey AWARDS 2024, following its $1.5 billion bond issuance aimed at international institutional investors through its subsidiary Sisecam UK PLC in the UK.

In April, Şişecam issued a total of $1.1 billion in Eurobonds, consisting of $500 million with a 5-year maturity and $600 million with an 8-year maturity. Due to the high demand received, the company increased the bond issuance to $1.5 billion in May.

The two issuances authorized by Şişecam from Citigroup Global Markets Limited, HSBC Bank plc, J.P. Morgan Securities plc, and Merrill Lynch International witnessed strong demand from all countries. 37% of the issued bonds were purchased by funds and financial institutions from the UK, 36% from the US, 15% from Europe, and 12% from Asian and Middle Eastern funds, primarily from Hong Kong.

Despite borrowing at a rate below the current yields of Eurobonds traded in the market, and considering the market conditions as of the transaction date, Şişecam confirmed the global confidence placed in it by attracting nearly $5 billion in total demand from international funds and financial institutions, marking the largest corporate bond issuance in Turkish Republic history. This achievement has been further recognized through the awards it received.