Turkey’s leading food company, Ülker Biscuit’s was the only Turkish company to rank first in two categories at the 2021 Turkey Bonds & Loans Awards – which recognize companies’ outstanding financial/banking achievements

Last year, Ülker Bisküvi signed a USD $455 million loan agreement with seven international banks and the European Bank for Reconstruction & Development. This successful financial model strengthening its capital structure through long-term financing from international banks was recognized at the Turkey Bonds & Loans Awards in two categories – “Syndicated Loan Agreement of the Year” and “Corporate Finance Team of the Year” – making it the first Turkish company ever to earn such an honour.

Ülker’s triumph comes after three arduous months of market research and a technical assessment conducted by a panel of over 100 industry experts, bankers, investors, and issuers.

Mete Buyurgan: “We are contributing to Turkey’s prosperity and employment.”

Ülker’s CEO Mete Buyurgan, looking back on this year’s award, had the following to say:

“Both Turkey and the rest of the world have been going through a sensitive and difficult period for a good while now. Ülker Bisküvi has maintained its strong position in all of the markets we operate in and kept our balance sheet solid during this period while continuing production for our people and our country without interruption. Despite difficult global economic conditions last year, we issued USD $650 million worth in bonds thanks to a long-term syndicated loan worth USD $455 million we borrowed from several international banks. This indicates to us that financial institutions believe in us and in Turkey. We’re delighted that our finance team that successfully completed this process was selected as the Corporate Finance Team of the Year.”

Cenker Uçan, Ülker Bisküvi’s CFO also made a few comments of his own:

“The syndicated loan agreement we signed last year along with the bond issue we completed during uncertain times in the wake of the pandemic were touchstones in Ülker’s journey on the road to reaching its growth and investment goals. As Turkey’s leading food company, we’ve got a very sound financial infrastructure. Winning this year’s Turkey Bonds & Loans Awards for “Syndicated Loan Agreement of the Year” and “Corporate Finance Team of the Year” crowned our success, and we’re also happy to be only company to receive not one, but two awards.”