Coca-Cola İçecek Sets First Coupon on TRY 2 Billion Floating-Rate Bill
Coca-Cola İçecek AS has tapped into Turkey's domestic debt market with its first coupon on a TRY 2 billion floating-rate bill. The instrument, issued via private placement to qualified investors in Türkiye, sets the initial periodic interest rate at 9.7535%. This is part of a broader TRY 10 billion domestic debt program.
The bill, referencing TLREF with a minus 2.4% additional return, carries a single coupon payable on maturity date August 12, 2026. Backed by its AAA(Tr) investment-grade rating from JCR Eurasia Rating, the transaction underscores Coca-Cola İçecek's access to local capital markets and its ability to finance operations and growth initiatives.
The company's role in Türkiye's beverage market is significant, with a strong presence in the non-alcoholic ready-to-drink segment. Its domestic debt program reinforces its credit profile and facilitates ongoing financing needs.