Commentary & Deal Flow

Vestel Elektronik Sanayi ve Ticaret A.S. (“Vestel”), one of the largest manufacturers of white goods and consumer electronics based in Turkiye and listed on Borsa Istanbul (Ticker: VESTL), with leading market shares in Europe and Turkiye, has mandated BofA Securities and JPMorgan as Joint Global Coordinators and Bookrunners, and Emirates NDB Capital as Joint Bookrunner, to arrange a series of fixed income investor calls commencing today, Wednesday May 1, as well as physical investor meetings in London and calls commencing tomorrow, Thursday May 2. BofA is coordinating logistics.

A 5NC2 144A / Reg S US$ benchmark senior unsecured notes (the “Notes”) offering, expected to be rated B+ by Fitch and B3 by Moody’s, will follow subject to market conditions.

Vestel has been assigned ratings of B+ (Positive) by Fitch and B3 (Stable) by Moody’s in connection with its potential transaction.

A NetRoadshow presentation, alongside the Preliminary Offering Memorandum in relation to the Notes, will be made available.