Turkish company’s lira bond issuance oversubscribed
ISTANBUL
The proceeds from the issuance, placed by ÜNLÜ & Co, will be used for the financing of the company’s energy investments, the company said in a statement.
A significant number of qualified investors were interested in the corporate bond issuance on Feb. 3, it added.
The corporate bond, with a maturity of two years, was the second issuance by Çalık Enerji. The company had redeemed the first bond issuance of the same amount on Jan. 27. The annual compounded return based on the calculation of the first coupon of the issuance is 16.1424 percent. The proceeds of the issuance will be used for renewable energy investments by Çalık Enerji, according to the statement.
Salih Tuncer Mutlucan, CFO and board member of Çalık Enerji, said they received strong demand beyond their expectations. “The level of interest in our company’s bond issuance, which operates globally in Power Generation Power and Gas Distribution, is a reflection of the confidence in the strong shareholding and balance sheet structure. Çalık Enerji will continue to create added value for our country through its domestic and international operations. Our company will use the proceeds from the corporate bond issuance in the financing of renewable energy investments,” he said.