Clifford Chance advises Şişecam on its USD 1.1bn Eurobond issuance, marking the largest corporate bond issued out of Türkiye

Global law firm Clifford Chance advised Şişecam on its USD 1.1 billion Reg S/144a Eurobond issuance through its UK subsidiary, Sisecam UK PLC, marking the largest corporate bond issue in the history of the Republic of Türkiye. The issuance was split into two tranches: USD 500 million and USD 600 million with 5-year and 8-year terms, and coupon rates of 8.250% and 8.625%, respectively.

The bookrunners included Citigroup Global Markets Limited, HSBC Bank plc, J.P. Morgan Securities plc, and Bofa Securities.

Şişecam is a global player with production activities spread across four continents in 14 countries.

Clifford Chance’s cross-border team based in London and Istanbul were led by partners Matt Fairclough and Sait Eryılmaz who were supported by senior associates Jake DuCharme, Jeffery Hung and Ali Can Altıparmak along with Bilgesu Çakmak (Associate), Irmak Yetim (Associate) and Trey Oxendine (Law Clerk).