Arçelik announces Eurobond issue of $400 million
Arçelik has successfully issued Eurobond with a total value of $400 million, marking the first Eurobond issuance by a private sector company from Türkiye in almost two years
ISTANBUL, Sept. 20, 2023 /CNW/ -- Arçelik, a leading global home appliance manufacturer, has issued a $400 million Eurobond with a maturity date of September 25, 2028. The issuance was executed through the intermediation of JP Morgan, BNP Paribas, Citigroup, and HSBC Bank. This transaction stands out as the first Eurobond issuance undertaken by a private sector company from Türkiye since January 2022.
Özkan Çimen, the Chief Financial Officer of Arçelik, commented, "We remain steadfast in our commitment to meeting the expectations of our investors and consumers. Our $400 millionEurobond issuance represents a significant milestone that not only mirrors investor confidence but also supports our company's robust financial performance. The substantial interest shown in our bond issuance demonstrates that our company's success and growth potential is well received by investors. As we continue our growth trajectory with a solid balance sheet, we are also strengthening our position in global markets."
Arçelik had previously issued a green bond worth €350 million with a five-year maturity in 2021, becoming the first real sector company in Türkiye to issue green bonds in the international markets.
With over 40,000 employees throughout the world, Arçelik's global operations include subsidiaries in 53 countries, and 31 production facilities in 9 countries and 14 brands owned or used with a limited license (Arçelik, Beko, Grundig, Blomberg, ElektraBregenz, Arctic, Leisure, Flavel, Defy, Altus, Dawlance, Voltas Beko, Singer*, Hitachi*). Arçelik's 30 R&D and Design Centers & Offices across the globe are home to over 2,300 researchers and hold up to 3,000 international registered patent applications to date. For the 4th consecutive year, Arçelik achieved the highest score in the DHP Household Durables industry (based on the results dated 16 December 2022) in the Dow Jones Sustainability Index of the S&P Global Corporate Sustainability Assessment. Arçelik's vision is 'Respecting the World, Respected Worldwide.'
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