International Banks Grant Ülker Bisküvi

$455 Million Loan

Ülker Bisküvi signed a loan agreement of approximately $455 million

with international banks.

Ülker Bisküvi, Turkey’s largest listed food company, signed a loan agreement of $455 million with a maturity of three years and semiannual interest payments with the European Bank for Reconstruction and Development (EBRD) and seven international banks including Bank of America (Global Coordinator, Bookrunner and Initial Mandated Lead Arranger), Coöperatieve Rabobank U.A. (Bookrunner and Initial Mandated Lead Arranger) and Emirates NBD Capital Limited (Bookrunner and Initial Mandated Lead Arranger).

The loan agreement of $455 million includes $110-million and €244-million syndicated loans, as well as a €75-million loan agreement signed with the EBRD.

With these two loan agreements that provide Ülker Bisküvi with $455 million, the Company plans to repay the $375-million syndicated loan, which is due in April 2020, and use the rest for its strategic investment projects.

Mete Buyurgan, the CEO of Ülker Bisküvi, said, “Our country and the world go through tough times. As Ülker Bisküvi, we maintain our strong position in the markets in which we operate thanks to our solid balance sheet, and continue our uninterrupted productions for our country and people. It is more important than ever for our company to access long-term financing with the cooperation of international banks despite the challenging global economic conditions. These agreements highlight international banks’ trust in our country and our company.”

Cenker Uçan, the CFO of Ülker Bisküvi, added, “Our goal was to receive $250 million in funding and yet we were granted almost the double of this amount, $455 million. This is a huge success. Both agreements have a maturity of three years and semiannual interest payments. We appreciate these international banks for their trust during these tough times that the global markets are facing.”