Ülker Bisküvi has signed a new 5-year bullet syndicated loan agreement in the amount of USD 250 million, aimed at refinancing the 3-year USD 250 million syndicated loan obtained in 2023.

Ülker Bisküvi has signed a new 5-year bullet syndicated loan agreement in the amount of USD 250 million, aimed at refinancing the 3-year USD 250 million syndicated loan obtained in 2023.

The loan, coordinated globally by J.P. Morgan, was arranged with J.P. Morgan, Emirates NBD, and Standard Chartered Bank acting as mandated lead arrangers and bookrunners, while Emirates NBD and Standard Chartered Bank also served as joint sustainability coordinators. The transaction was completed with the participation of 11 international banks, including Gulf Bank, Abu Dhabi Commercial Bank, Rabobank, Al Ahli Bank of Kuwait, , Sumitomo Mitsui Banking Corporation, Commercial Bank of Dubai, Bank of America, and HSBC.

Ülker Bisküvi will refinance its 2023 syndicated loan ahead of its original 2026 maturity, on October 20.

A First in the Private Sector: 5-Year  bullet Syndicated Loan

Commenting on the agreement, Ülker CEO Özgür Kölükfakı stated:

“This long-term syndicated loan agreement reflects Ülker Bisküvi’s consistent growth strategy and the strong relationships it has built with international financial institutions. We believe this long-term facility is an important vote of confidence both for our company and for our country. This transaction represents the first 5-year bullet syndicated loan refinancing executed by a private sector company in Turkiye in the last five year. We received a demand more than twice our actual borrowing requirement, forming a strong consortium of 11 banks from the U.S., Europe, the Middle East, and Asia. Thanks to Ülker’s strong financial indicators and the improving credit conditions of our country, we were able to secure this loan with significant cost advantages.”

Investing in Future Generations with Sustainability and a Zero-Waste Corporate Culture

Highlighting the company’s commitment to sustainability, Kölükfakı added:

“This loan incorporates a sustainability-linked structure, reflecting Ülker’s strong dedication to sustainability. Going forward, with our sustainability-focused approach, robust financial structure, and prudent balance sheet management, we remain determined to continue contributing to our country’s economy.”