Ülker Bisküvi arranged a syndicated term loan facility in the amount of USD 550 mn, all sourced from international banks. With over subscribing almost three times the offer, Ülker achieved to lower interest rate.

Total of 26 banks with more than 10 new lending relationships from Europe, United States and Asia committed to the deal. The syndication loan was the largest and most diverse syndicate of banks for any Turkish corporate excluding banks in the past 10 years

Initially launched for USD 300 mn and a rate of Libor + 2.90, however ended up with a loan amount of USD 550 mn and rate as Libor + %2.75 with a 3 year maturity on the back of significant demand to be a part of this transaction.

Some portion of the syndication term loan facility will be utilized to refinance the loan to be matured and the remaining amount will be used to finance Ülker’s local and regional investments.

Lead arranger was Bank of America Merrill Lynch, and Mizuho, SMBC, Bank of Tokyo Mtsubishi from Japan; Mega Bank from China, Bank of Taiwan from Taiwan, Al Khaliji, The Commercial Bank of Qatar, Emirates NBD, Ahli United Bank, Bank of Bahrain & Kuwait from Middle East, HSBC Bank plc, ING, Rabobank, Standard Chartered, Unicredit, Barclays Bank PLC, BNP Paribas, Societe Generale, Natixis, Commercial Bank International, Intesa Sanpaolo, JP. Morgan Chase Bank, The Royal Bank of Scotland, Citibank ve Deutsche Bank Luxembourg SA participated in the syndication loan.