Emirates NBD Capital Arranges EUR 350 million Inaugural Syndicated Loan Facility for Beko B.V.

2 Min | 02 September 2024

Transaction marks Beko’s first-ever syndicated loan facility, successfully raised with participation from regional and international banks
Emirates NBD Capital acted as the Sole Coordinator, Initial Mandated Lead Arranger and Bookrunner

Dubai, 30 August 2024: Emirates NBD Capital Limited (“EMCAP”), the investment banking arm of Emirates NBD, a leading banking group in the MENAT (Middle East, North Africa and Türkiye) region, announces that it has successfully acted as the Sole Coordinator, Initial Mandated Lead Arranger and Bookrunner for Beko B.V.'s debut EUR 350 million global syndicated term loan facility on 14 August 2024. Emirates NBD Bank (P.J.S.C.) served as the Facility Agent.

Beko B.V., incorporated in the Netherlands, is a wholly owned subsidiary of Beko, a leading global manufacturer of white goods with subsidiaries in 58 countries.

The three-year syndicated term facility marks Beko's entry into the syndicated loan market, setting precedent for its future financings. The proceeds of the facility will be used towards general corporate purposes and is aimed at supporting Beko’s principal activities in managing overall business strategies and business development process for the subsidiaries.

EMCAP successfully marketed the transaction resulting in strong interest from financial institutions across Europe, Middle East and Asia. The transaction was met with overwhelming demand from 14 financial institutions, leading to a 200% oversubscription from the initial launch amount of EUR 250 million. Beko, in response to the strong demand, elected to upsize the facility to EUR 350 million. This successful transaction not only highlights Beko’s solid credit profile but also enables the company to globally diversify its investor base.

Hitesh Asarpota, CEO of Emirates NBD Capital, said: “We are proud to have played a pivotal role in facilitating Beko’s debut global loan transaction. The transaction marks a significant milestone for Beko B.V. as they enter the syndicated loan market for the first time. The strong demand from global investors is a clear reflection of Beko’s financial standing and strategic vision. At Emirates NBD Capital, our focus is on delivering tailored financing solutions that enable our clients to achieve their business objectives. This landmark transaction also underscores our strategy to be the go-to bank for international issuers to widen investor base.”

Barış Alparslan, CFO of Beko, said: ”Securing our first syndicated loan facility is a major achievement for Beko. This transaction reflects our robust financial health and our ability to attract a broad range of investors. The support from Emirates NBD Capital and our syndicate partners has been instrumental in enabling us to pursue our strategic objectives and continue our growth trajectory.”

Participating Banks

Sole Coordinator and Initial Mandated Lead Arranger and Bookrunner:

Emirates NBD Capital Limited

Mandated Lead Arrangers:

Banco Bilbao Vizcaya Argentaria, S.A., London Branch
Commercial Bank of Dubai PSC
First Abu Dhabi Bank PJSC
GarantiBank International NV
Societe Generale

Lead Arrangers:

Bank of China Turkey A.S.
Burgan Bank K.P.S.C.
State Bank of India, London Branch

Arrangers:

DHB Bank N.V.
HSBC Continental Europe
Isbank AG
J.P. Morgan SE
T.C. Ziraat Bank A.S. London Branch

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