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Deals of the Year 2012: Anadolu Efes

Anadolu Efes
Size $500 million 10-year bond issue
Bookrunners Bank of America Merrill Lynch, HSBC, JPMorgan, RBS
return to the Emerging Europe Deals of the Year index

Establishing a reputation in the global debt markets was also a priority for Anadolu Efes, the Turkish beverage group that made its dollar debut in October to a rapturous reception from investors. "As a global company that is growing quite fast, we wanted to devise a funding source that would allow us to extend our maturities and diversify our investor base, and that we can tap into in the future when and if we have sizeable financing requirements," says Can Çaka, the group’s chief financial officer.

Unlike with Brunswick Rail, the success of Efes’s inaugural deal was never seriously in doubt. Even before the start of the four-day roadshow, the issue was multiple times oversubscribed as investors queued up to buy into a company that boasts Turkey’s only double investment-grade corporate rating and had in March franked its global ambitions with the takeover of the Russian and Ukrainian subsidiaries of SABMiller, making it the second-largest player in Russia’s beer market.

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