Sisecam’s $1.1 Billion Eurobond Issues Receive Over $3.5 Billion in Demand
ISTANBUL, Turkey, April 25, 2024 (GLOBE NEWSWIRE) -- Through its UK subsidiary, Sisecam UK PLC, Sisecam issued $500 million and $600 million global bonds (Eurobonds) with 5-year and 8-year terms, aimed at institutional investors globally. These issues attracted demand exceeding $3.5 billion from international funds and financial institutions. The issues, authorized by Citigroup Global Markets Limited, HSBC Bank plc, J.P. Morgan Securities plc, and Bofa Securities, had coupon rates of 8.250% and 8.625%. The bonds, in high demand worldwide, saw 38% purchased by funds and financial institutions from the USA, 37% from the UK, 15% from Europe, and 10% from Asia and the Middle East, primarily by institutions based in Hong Kong.
- These Eurobond issues received demand exceeding $3.5 billion.
- This marked the highest demand for the largest corporate bond issue in the history of the Republic of Turkey.
- These issues attracted demand exceeding $3.5 billion from international funds and financial institutions.
- The $700 million Eurobond issue Sisecam conducted in 2019 also received high demand from international funds and investors.