Şişecam Issues USD 500 Million Nominal 7-Year Eurobond

Şişecam, the only global company operating across all major segments of the glass industry, has issued a new Eurobond worth USD 500 million with a 7-year maturity to international funds and financial institutions.

Şişecam added another successful borrowing transaction to its track record in international markets, which has been characterized by strong investor demand. The coupon interest rate for the issuance, carried out through Sisecam UK PLC, Şişecam's 100 percent subsidiary in the United Kingdom, was set at 8.3750 percent.

Citigroup Global Markets Limited, BNP Paribas, J.P. Morgan Securities plc and Emirates NBD Bank PJSC were appointed for the issuance, while credit ratings for the bonds were determined by international rating agencies at Şişecam's current credit rating levels: "B" by Fitch and "B2" by Moody's.

Proceeds from the Eurobond issuance will be used for refinancing the remaining USD 372 million obligation related to the 2026 Eurobond issuance and selected short-term financial obligations. Through this issuance, Şişecam will diversify financing sources used in liquidity management, while extending the maturity of a significant portion of its short-term financial debt and shifting its debt profile predominantly toward the long term.

Can Yücel, General Director of Şişecam, stated in his assessment of the matter that international investor interest clearly demonstrates confidence in Şişecam's strong positioning at a global scale and its long-term strategy. Yücel said: "As Şişecam, we are consistently maintaining our strong, disciplined and reliable position in international capital markets. This issuance is a concrete reflection of global investors' confidence not only in our current financial performance, but also in our long-term strategic journey and sustainable growth vision. This transaction, which extends our debt maturity in a manner that will make us more resilient against various risks that may arise in the medium and long term, will strengthen our financial and operational flexibility while significantly supporting our investment plans focused on value creation."

In the previous year, Şişecam had carried out Eurobond issuances totaling USD 1.5 billion to international funds and financial institutions, consisting of USD 675 million with a 5-year maturity and USD 825 million with an 8-year maturity. The issuances received demand totaling close to USD 5 billion, marking the largest corporate bond issuance in the history of the Turkish Republic. The new issuance, which represents a continuation of this strong performance, once again confirmed Şişecam's reliable position in international capital markets.

Şişecam's Eurobond Issuance:

• The coupon rate for the fixed-rate bonds with a nominal value of USD 500 million and a 7-year maturity was set at 8.3750 percent.
• Total demand from international funds and financial institutions reached USD 1.7 billion.
• Roadshow meetings for the Eurobond issuance were held in London.
• Meetings were conducted with more than 60 investor institutions.