EBRD invests $40mn in Turkish beer group Anadolu Efes’ $500mn eurobond

By bne IntelIiNews June 30, 2021

The European Bank for Reconstruction and Development (EBRD) has announced that it is investing $40mn in a $500mn eurobond issued by Turkey’s Anadolu Efes Biracilik ve Malt Sanayii (Anadolu Efes) beer and soft drinks group.

Fitch Ratings on June 29 assigned the Anadolu Efes notes a final senior unsecured rating of 'BBB-' following the successful placement of the notes with final documents materially conforming with the information received by Fitch during the rating process. The rating is in line with Anadolu Efes' Long-Term Issuer Default Rating (IDR).

The EBRD has been involved in financing the group’s operations in Turkey, but also in Georgia, Kazakhstan, Moldova and Russia.

The drinks producer is accessing international capital markets to refinance a $500mn eurobond maturing in 2022.

With the EBRD’s help, Anadolu Efes is also planning to become more sustainable and create opportunities for women and youth, the development bank said, adding that working with Anadolu Efes is part of the EBRD’s strategy to strengthen Turkey’s knowledge economy, promote the development of skills for youth and support the empowerment of women.

In Turkey, the EBRD as an institutional investor has invested more than €13bn through 337 projects, with 96% of these in the private sector. The bank responded to the COVID-19 pandemic by stepping up its financing in Turkey to €1.7bn in 2020 from €1bn in 35 projects during 2019. In 2021, the EBRD’s investments in Turkey will be focused on supporting the country’s post-pandemic recovery.

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