Şişecam, the only global company operating across all core areas of glass, has successfully completed a new 7-year Eurobond issuance worth $500 million, executed via its wholly owned subsidiary Şişecam UK PLC. The issuance was met with strong international investor appetite, reaching $1.7 billion in demand, and was priced with a fixed coupon rate of 8.3750%.

This latest transaction strengthens Şişecam’s funding flexibility at a time when industrial groups are prioritising longer debt tenors, maturity extension, and more stable liquidity planning in international markets.

A Strategic Refinancing Move: Extending the Maturity Profile

Şişecam confirmed that the proceeds will be used primarily to refinance the remaining $372 million liability from its 2026 Notes, alongside selected short-term financial obligations. The result is a shift away from short-term liabilities toward a more long-term debt profile, supporting a healthier maturity structure and reducing refinancing pressure in the medium term.

In practical terms, this issuance supports:

• Diversification of funding sources in liquidity management
• Reduced short-term concentration risk in debt repayments
• Higher financial resilience against market volatility
• Greater flexibility for investment plans focused on long-term value creation

International Bookrunners and Confirmed Credit Ratings

The issuance was mandated to a group of major international institutions:
Citigroup Global Markets Limited, BNP Paribas, J.P. Morgan Securities plc, and Emirates NBD Bank PJSC.

Şişecam’s credit ratings were also affirmed at current levels during the process, rated “B” by Fitch and “B2” by Moody’s, maintaining consistency in its international market profile.

CEO: Confidence in Strategy and Global Positioning

Commenting on the outcome, CEO Can Yücel underlined that investor demand reflects confidence not only in the company’s current performance, but also its long-term strategic direction. He highlighted that extending debt maturity increases resilience against medium- to long-term risks, while strengthening operational flexibility and supporting continued investment focus.

The new Eurobond follows Şişecam’s recent momentum in global debt markets. Last year, the group issued a combined $1.5 billion in Eurobonds across 5-year and 8-year maturities, drawing nearly $5 billion in demand, marking one of the largest corporate bond issuances in Türkiye’s history.