Registration: 144A/Reg S;

Anadolu Efes Biracilik ve Malt Sanayii A.S. (AEFES), exp BBB- by S&P (Stable outlook) and BBB- by Fitch (Stable outlook), US$500m 144A/REg S 7y sr notes due 6/29/28. BNP Paribas, Citi (B&D), HSBC and J.P. Morgan as Joint Bookrunners. MWC then 3mos par call. List Euronext Dublin. English Law. UOP: Redeem the US$500,000,000 3.375% notes due 2022 issued in October 2012 and for general corporate purposes. Pricing 6/22. Settle 6/29 (T+5). IPTs: low 4%s. Anadolu Efes Biracilik ve Malt Sanayii A.S. ("Anadolu Efes"), Europe's fifth largest brewer in terms of production volume, rated BBB- by S&P (Stable outlook) and BBB- by Fitch (Stable outlook), has mandated BNP Paribas, Citi, HSBC and J.P. Morgan as Joint Bookrunners to arrange a series of fixed income investor meetings commencing Monday 21st June, 2021. A Benchmark USD-denominated Reg S/144A notes offering with a 7 year maturity (the “Offering”) is expected to follow, subject to market conditions. In addition, Anadolu Efes has announced an invitation to purchase for cash any-and-all of its outstanding U.S.$500,000,000 3.375 per cent. Notes due 2022, subject to the successful completion of the Offering. The Expiration Deadline is set for 30th June, 2021. A Noteholder that has validly tendered, or indicated its firm intention to tender, may receive priority in the allocation of the New Notes, subject to the issue of the New Notes. Citi and J.P. Morgan are appointed as Joint Dealer Managers. For further information on the offer, holders should (subject to offer and distribution restrictions) refer to the Tender Offer Memorandum dated 21st June, 2021. Relevant stabilisation regulations including FCA/ICMA apply.

[ANADOLU EFES]

Anadolu Efes Biracilik ve Malt Sanayii A.S. "AEFES" (BBB- by S&P Stable outlook and BBB- by Fitch Stable outlook), hit the market today with US$500m 144A/REg S 7y sr notes due 6/29/28. MWC then 3mos par call. List Euronext Dublin. English Law. UOP: Redeem the US$500,000,000 3.375% notes due 2022 issued in October 2012 and for general corporate purposes. Settle 6/29 (T+5).

VIA BNP Paribas, Citi (B&D), HSBC and J.P. Morgan as Joint Bookrunners.

Announced overnight as benchmark size, we heard initial thoughts as low 4%.

GUIDANCE: 3.875% area. Books in excess of $2bn..

FINAL GUIDANCE: 3.50%-3.625% (WPIR).

Ultimately, a $500m deal priced at 3.50%

PRICED: $500m 3.375% 6/29/28 99.230 3.50% T+227.8.

With only 1 outstanding – the '22s that are being redeemed with today's deal – CONCESSION IS N/A.

Comps away:

Coca-Cola Icecek (B2/BBB-) - 50% owned by Efes
CCOLAT 4.215% due 09/19/24 Z+200 (2.522% YTW; $104.82)

Final book size was heard at a respectable $2.225bn.