Çimko Secures $300 Million in Debut Eurobond Issuance
Deal News | Jun 06, 2025 | White & Case LLP
Global law firm White & Case LLP, in conjunction with GKC Partners, has successfully advised key joint bookrunners such as Citigroup Global Markets Limited and HSBC Bank plc on Çimko Çimento ve Beton Sanayi Ticaret Anonim Şirketi's remarkable debut in international capital markets. With a $300 million Eurobond issuance under Rule 144A/Reg S, Çimko, a prominent Turkish producer in the cement sector, seeks to enhance its debt structure and prioritize its energy efficiency and renewable energy endeavors. This foray signifies Çimko's commitment to sustaining its leadership in sustainable cement production. Sanko Holding A.Ş., a historic Turkish conglomerate with widespread interests, remains Çimko's parent company. The intricate transaction was orchestrated by seasoned professionals from White & Case and GKC Partners across London and Istanbul, spearheaded specifically by Richard Pogrel, Melissa Butler, and Derin Altan.
Sectors
- Cement Industry
- Financial Services
- Energy
Geography
- Turkey – Çimko is a Turkish company entering the international capital market; Sanko Holding A.Ş., its parent company, is based in Turkey.
- United Kingdom – White & Case's London team played a significant role in advising on the transaction.
Industry
- Cement Industry – Çimko is a key player in the cement and ready-mix concrete sector, which is integral to infrastructure and construction industries.
- Financial Services – The Eurobond issuance highlights the involvement of global banks and financial institutions as joint bookrunners and advisors.
- Energy – Çimko's commitment to energy efficiency and renewable energy initiatives aligns with global trends in sustainable energy within industrial operations.
Financials
- $300 million – The total value of the debut Eurobond issuance by Çimko.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Çimko Çimento ve Beton Sanayi Ticaret Anonim Şirketi | Issuer | Company | A leading Turkish cement and ready-mix concrete producer. |
| White & Case LLP | Legal Advisor | Company | Provided legal advice to joint bookrunners for the Eurobond issuance. |
| GKC Partners | Legal Advisor | Company | Istanbul-based law firm working with White & Case on the transaction. |
| Citigroup Global Markets Limited | Joint Bookrunner | Company | A global bank involved in the Eurobond issuance. |
| Emirates NBD Capital Ltd. | Joint Bookrunner | Company | Part of the joint bookrunning team for Çimko's Eurobond. |
| HSBC Bank plc | Joint Bookrunner | Company | Participated as a joint bookrunner in the Eurobond issuance. |
| ING Bank N.V. | Joint Bookrunner | Company | Part of the joint bookrunning team for Çimko's Eurobond. |
| BofA Securities | Joint Bookrunner | Company | A division of Bank of America, participating as a joint bookrunner. |
| Sanko Holding Anonim Şirketi | Parent Company | Company | A 120-year-old Turkish industrial conglomerate, owner of Çimko. |