Our company issued Eurobonds amounting to USD 750 million with a maturity of 5.5 years, the interest rate was 7.75 percent.
Aydem Renewables, has completed the book building process for the green bond issued to be sold to the qualified investors abroad. Aydem Renewables, which has collected a demand of 1.6 billion dollars with the participation of 131 investors, including long-term investors, as the result of the book building, that has attracted great interest from international investors, has undersigned the bond issuance with the highest amount at its first time in Turkey. This issuance also has the distinct characteristic of being the largest green bond issuance of Turkey.
Bond issuance with the highest amount at the first time in Turkey
Expressing his great pleasure with the successful bond issuance of Aydem Renewables, our Aydem Energy CEO and Aydem Renewables Chairman İdris Küpeli stated; “With this transaction, which is our first Eurobond issuance, we have accomplished the highest amount of bond issue in Turkey at the first issuance and as a single item. At the same time, we have also undersigned the largest transaction accomplished by a renewable energy company in the CEEMEA (Central & Eastern Europe, Middle East and Africa) Region. We consider this successful achievement as an indicator of the confidence that the international markets have shown in our country, in our group and in Aydem Renewables company. We wish the best for our country and for our company”.
Küpeli: “With the revenue to be obtained from the issuance, the entire credit debt of our company to the banks will be closed and new investments shall be financed.”
Küpeli has stated that making such a huge issuance after a difficult year due to the pandemic is a very important step for the company to reach its future goals and said “We have collected a demand of 1.6 billion dollars from 131 investors. The nominal value of the bonds to be issued has been determined as 750 million dollars and the maturity as 5.5 years. The bonds shall be issued with a 3.5 years of grace period and an interest rate of 7.75 percent. We will make a great contribution to the economy of the country with the income we shall obtain. At the same time, we shall also close the entire credit debt of Aydem Renewables to the banks; and we will utilize our remaining income to finance the hybrid investments to be realized in the next 3 years, in line with our target of doubling the installed power of our company.”
The issuance transaction is expected to be completed on Monday, August 2, following the Capital Markets Board's approval of the issuance document.