Allen & Overy has advised the joint lead managers Bank of America Merrill Lynch, HSBC, J.P. Morgan and The Royal Bank of Scotland on a USD500 million Rule 144A / Regulation S bond by Turkish brewer Anadolu Efes. Please enter ByLine.
The ten year bond has a coupon of 3.375%.
U.S. corporate finance partner Sachin Davé commented: “This corporate bond is a first from Turkey with two investment-grade ratings and the strong reception internationally demonstrates that there is a high degree of international investor appetite and confidence in the Turkish market. We hope this will mark the start of a new trend, seeing other Turkish corporates come to market, similar to what happened with Turkish financial institutions in 2010.”
Allen & Overy provided both English and US law advice. Partner Sachin Davé provided US law advice, assisted by associate Alana McCurley and partner Jamie Durham provided English law advice, assisted by senior associate Karen Leefrom the Istanbul office.
Allen & Overy has a strong track record advising on Turkish debt capital markets deals including Akbank’s inaugural USD1 billion bond issue in 2010 and follow-on issuances by a number of leading Turkish financial institutions in 2012, including Akbank, Garanti and Turk Exim.
