Commentary & Deal Flow

Eregli Demir ve Celik Fabrikalari T.A.S (“Erdemir”), listed on Borsa Istanbul (Ticker: EREGL), the largest steel producer and sole integrated flat steel producer in Turkiye, has mandated BofA Securities, BNP Paribas and Citi as Joint Global Coordinators and Joint Bookrunners, and BBVA, Emirates NBD Capital and Societe Generale as Joint Bookrunners, to arrange a series of fixed income investor meetings in London as well as investor calls commencing tomorrow, Thursday 11 July 2024. Erdemir is rated B+ (Positive) by Fitch and B3 (Positive) by Moody’s.

An inaugural US$ benchmark Reg S/Rule 144A 5-year senior unsecured notes offering, expected to be rated B+ by Fitch and B3 by Moody’s, will follow subject to market conditions.

Relevant stabilisation regulations including FCA/ICMA apply.