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Enerjisa has issued the first private sector bonds indexed to the CPI in Turkey.

August 19, 2016

Enerjisa has issued the first private sector bonds indexed to the CPI in Turkey.


Enerjisa, has realized another first in the private sector and started CPI-indexed private sector bond issuance. A total of 200 million TL bonds of Başkent Electricity Distribution Company with a 3-year maturity were sold out. Enerjisa CEO Kıvanç Zaimler said "The demand for our initial bond issue is an indication of the trust in our company in the markets."

Başkent Electricity Distribution Company which is one of the Enerjisa Distribution Companies, has successfully issued 200 million TL of bonds with 3 years maturity on August 15th. Başkent has broken the grounds in capital markets in Turkey by issuing the first CPI-indexed bonds by the private sector.

In his statement, Enerjisa CEO Kivanc Zaimler said " In an environment dominated by the harsh conditions Energy market, Enerjisa Distribution Companies has exhibited an outstanding performance in 2015. Başkent EDAŞ's experience in the sector, its strong financial structure and its pioneering services, just like all distribution companies, played an important role in this success. Baskent EDAŞ led the way in the capital markets of Turkey by successfully accomplishing the issuance of the first CPI-indexed bonds by private sector.

Zaimler, made the following assessment: The demand for our bond issue is an indication of the trust in our company in the markets. Başkent EDAŞ will continue to issue bonds in the coming period depending on the market conditions which will both contribute to the development of the market and back the company's ongoing investments.

By this bond issuance, Başkent EDAŞ, providing electricity distribution to 7.1 million people in 7 provinces, aims to enable the differentiation of financial funding and create an alternative source of financing for realized investments.

As the result of the bookbuilding held on 11-12 August 2016, all 200 million worth of bonds offered to individual and institutional investors were oversubscribed. Bonds were purchased majorly by private pension and insurance companies, asset management companies and banks. The successful bond issue of Baskent EDAS with the value date August 15, 2016, and the redemption date of August 12, 2019 (1092 days) is intermediated by Garanti Investment Securities Inc.
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