Turkey’s Anadolu Efes guides benchmark dollar seven-year notes to 3˝%-3 5/8% area

Chicago, June 22 – Turkey's Anadolu Efes Biracilik Ve Malt Sanayii AS released final guidance on its benchmark offering of seven-year dollar-denominated notes (BBB-/BBB-) in the 3˝% to 3 5/8% area, according to a market source.

Order books were in excess of $3 billion.

Initial price talk had the senior notes coming in the low 4% area, which was tightened as the books moved past the $2 billion point to the 3 7/8% area.

The Rule 144A and Regulation S notes will have a make-whole call that becomes a par call three months priority to maturity.

Pricing is expected to wrap on Tuesday.

Proceeds will be used to redeem the company’s $500 million 3 3/8% notes due 2022 and for general corporate purposes.

BNP Paribas, Citigroup (bill and deliver), HSBC and JPMorgan are joint bookrunners.

Anadolu Efes is an Istanbul-based beverage company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.