White & Case advises Ülker Bisküvi on US$550 million sustainability-linked Eurobond issuance

Global law firm White & Case LLP and GKC Partners have advised Ülker Bisküvi Sanayi A.Ş., Türkiye's largest public food manufacturing company, on its Rule 144A/Reg S US$550 million Eurobond issuance.

"Ülker Bisküvi's successful Eurobond issuance underscores its robust market position and strategic vision," said White & Case partner Richard Pogrel, who co-led the Firm's deal team. "Our representation of the company on this important deal re-affirms a long-standing and trust-based relationship and the offering's success demonstrates our global expertise and ability to guide complex, cross-border finance transactions efficiently."

The sustainability-linked notes due 2031 will be listed on Euronext Dublin. The bookrunners were J.P. Morgan Securities plc, Merrill Lynch International, Emirates NBD Bank PJSC, HSBC Bank plc and Rabo Securities. The issuance also facilitated a simultaneous tender offer for Ülker Bisküvi's Eurobonds due 2025, which was fully financed through the proceeds from the current note issuance.

Founded in Türkiye in 1944, Ülker Bisküvi is a major player in the confectionery industry in Türkiye, the Middle East and North Africa, and a global player with exports to more than 100 countries. The company is part of pladis Global, whose portfolio includes iconic brands such as Ülker, Godiva and McVitie's. It operates multiple manufacturing facilities across Türkiye, the Kingdom of Saudi Arabia, Egypt and Kazakhstan.

The White & Case team in London which advised on the transaction included partners Richard Pogrel, Laura Sizemore and James Greene, counsel James Clarke and associate Ece Küreğibüyük. The GKC Partners team in Istanbul included partner Güniz Gökçe, counsel Derin Altan and associates Kaan Alkan and Şehriban Ünlü. White & Case has a professional association with Istanbul-based GKC Partners.

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