Dentons and Balcıoğlu Selçuk Eymirlioğlu Ardıyok Keki Attorney Partnership advise Şişecam on US$500 million issue of guaranteed notes

London-Global law firm Dentons has advised the Türkiye-based multinational glass manufacturing group Şişecam on its Rule 144A/Reg S issuance of US$500 million 8.375% guaranteed notes due 2033. The notes were issued by the group's UK subsidiary, Sisecam UK plc, and guaranteed by Türkiye Şişe ve Cam Fabrikalari A.Ş., the parent company. The proceeds will be used to refinance existing debt, including the redemption of bonds maturing in March 2026.

Dentons acted as English and US counsel to Şişecam; Balcıoğlu Selçuk Eymirlioğlu Ardıyok Keki Attorney Partnership, the Istanbul-based law firm which Dentons works with in relation to Turkish law matters, provided Turkish advice. BNP PARIBAS, Citi, J.P. Morgan and Emirates NBD Capital acted as lead managers for the issuance.

Şişecam is a major global producer of flat glass, glassware, glass packaging and glass fibre, and ranks amongst the world's five largest producers of glass packaging and flat glass; the three largest producers of soda ash; and is a leading producer of chromium chemicals. The group has more than 23,000 employees in 12 countries.

Cameron Half commented: "This transaction highlights Dentons' ability to deliver seamless, multi-jurisdictional advice through a single, integrated team, and to support our clients in navigating complex legal issues to capture favourable market timing."

The transaction was led by London-based capital markets and US securities partner Cameron Half, with English law advice led by London debt capital markets partner David Cohen. The partners were supported by associates Pichrotanak Bunthan and Tom Day and trainee Tiara Mistry. Istanbul-based capital markets partner İbrahim Onur Baysal provided Turkish law advice, with assistance from senior associate Erkin Tuzcular.

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