Cimko Cement and Concrete, one of largest diversified cement producers in Turkey, has mandated banks, including a UAE lender, for its inaugural dollar-denominated RegS benchmark 5NC2 amortising notes.
The UAE’s Emirates NBD Capital, along with ING, have been appointed as joint bookrunners, while BofA Securities, Citi and HSBC will serve as joint global coordinators and bookrunners.
Fixed income investor calls have commenced from today.
Cimko is expected to be rated B+ (Stable) by Fitch and B2 (Stable) by Moody’s.
The joint global coordinators have engaged with the International Finance Corporation as the development finance institution and the Green for Growth Fund as the impact investment fund, which have provided their intention to place orders to purchase principal amounts of up to $50 million and $10.2 million respectively, subject to the final terms and conditions of the offering.
(Writing by Bindu Rai, editing by Daniel Luiz)
bindu.rai@lseg.com
