Ülker Bisküvi Secures USD 250 Million 5-Year Syndicated Loan

Ülker Bisküvi signed a new syndicated loan agreement with a 5-year tenor and bullet repayment at maturity to refinance the USD 250 million, 3-year syndicated loan it obtained in 2023.

The total USD 250 million credit facility was arranged under the global coordination of J.P. Morgan; with J.P. Morgan, Emirates NBD and Standard Chartered Bank acting as lead arrangers and bookrunners; and Emirates NBD and Standard Chartered Bank also serving as joint sustainability coordinators. The syndicated loan was signed with a total of 11 international banks on a 5-year tenor with bullet repayment at maturity, with participation from Gulfbank, Abu Dhabi Commercial Bank, Rabobank, Al Ahli Bank of Kuwait, Sumitomo Mitsui Banking Corporation, Commercial Bank of Dubai, Bank of America and HSBC. Ülker Bisküvi will refinance the syndicated loan it obtained in 2023 on 20 October, ahead of its maturity in 2026.

First in the private sector in 5 years: 5-year tenor syndicated loan with bullet repayment at maturity
Ülker CEO Özgür Kölükfakı noted that the syndicated loan provided is the first 5-year tenor, bullet repayment syndicated refinancing obtained in the private sector since 2020, and stated the following:

"We regard the long-term syndicated loan agreement we have signed as a reflection of Ülker Bisküvi's stable growth strategy and the strong relationships it has built with international financial institutions. We believe this long-term agreement is an important confidence indicator for both our country and our company. This transaction carries the distinction of being the first 5-year tenor, bullet repayment syndicated loan undertaken by a private company in our country over the past 5 years. We received demand exceeding twice our credit requirement and formed a strong consortium with the participation of 11 banks from the United States, Europe, the Middle East and Asia. Thanks to Ülker's strong financial metrics and our country's improving credit conditions, we achieved significant cost advantages with the credit we obtained.

Investing in future generations through sustainability and a waste-free corporate culture
Stating that they are operating with a sustainability-focused approach, Özgür Kölükfakı continued his remarks as follows: "The credit we obtained carries a sustainability-linked structure that reflects Ülker's strong commitment to sustainability. In the period ahead, we are committed to continuing to contribute to our country's economy through our sustainability-focused approach, sound financial structure and strong balance sheet management."