BASEAK and Dentons advised Coca-Cola İçecek Anonim Şirketi (CCI), the Coca-Cola bottler for Turkey, Central Asia, Pakistan and the Middle East, on its Rule 144A and Regulation S issuance of US$500 million 4.215% Notes due 2024. CCI is the first Turkish corporate issuer Eurobond market in 2017, and last issued in 2013.
This is another major international capital markets transaction for a Turkish company on which BASEAK and Dentons have advised in 2017, following our role on the very first premium listing of a Turkish company on the London Stock Exchange, advising different shareholder groups on the initial public offering of Delivery Hero, and advising Akbank in relation to its DPR program.
CCI is the fifth largest independent bottler of The Coca-Cola Company, operating 25 bottling plans (10 in Turkey), and having access to a consumer base of over 380 million people in 10 countries. CCI has been listed on the Borsa Istanbul A.Ş. since 2006, and as of 30 June 2017, had a market capitalization of US$2.9 billion.
Müfit Arapoğlu, Head of the Capital Markets practice in BASEAK, commented, “We are very happy to have acted on this landmark transaction which demonstrates the ongoing interest of foreign investors in the Turkish market and in Turkish companies. We are committed to be a leading firm in Turkish capital market transactions.”
Partner Mufit Arapoglu led all Turkish law matters, together with senior associate Duygu Eldem Çetinkaya and Cenk Yılgör. Dentons Debt Capital Markets partner David Cohen and US Securities partner Cameron Half led the US and UK legal aspects, working with associates Nicholas Yao and Moeen Qayum.