White & Case advises joint bookrunners on Erdemir’s US$750 million debut Eurobond issuance and US$200 million tap issuance

Global law firm White & Case LLP and GKC Partners have advised Banco Bilbao Vizcaya Argentaria, S.A., BNP Paribas, BofA Securities, Citigroup Global Markets Limited, Emirates NBD Capital Limited and Societe Generale as joint bookrunners on the debut Rule 144A/Reg S US$750 million notes issuance and US$200 million tap issuance by Ereğli Demir ve Çelik Fabrikaları T.A.Ş. (Erdemir).

"Erdemir's Eurobond issuance represents the largest demand for a first issuance in Türkiye's private sector in 2024. This indicates the confidence international investors have in Türkiye and Erdemir," said White & Case partner Melissa Butler, who co-led the Firm's deal team.

The senior notes due 2029 were listed on Euronext Dublin and were set with a coupon rate of 8.375 percent.

Founded in 1965 and one of Türkiye's largest publicly traded companies, Erdemir is the fourth largest steel producer in Europe and the largest integrated flat and long steel producer in Türkiye, having produced 24 percent of Turkish steel during the first quarter of 2024.

The White & Case team in London which advised on the transaction included partners Melissa Butler, Stuart Matty and James Greene, and associates Hashim Eltumi and Jack Adachi. The GKC Partners team in Istanbul included counsel Derin Altan and associates Kaan Alkan and Şehriban Ünlü. White & Case has a professional association with Istanbul-based GKC Partners.

Press contact
For more information please speak to your local media contact.