Clifford Chance and Ciftci Attorney Partnership have advised Arcelik A.S. on its offering of EUR 350 million in 3.0% Green Bonds due 2026 on the Euronext Dublin Stock Exchange. Gedik & Eraksoy and Allen & Overy advised joint lead managers JP Morgan Securities plc, Merrill Lynch International, and MUFG Securities EMEA plc.
Arcelik is a producer of home appliances with manufacturing facilities in Turkey, Romania, Russia, China, South Africa, Thailand, and Pakistan. The company employs around 30,000 people and provides goods and services in 145 countries.
According to Clifford Chance, Arcelik aims to use the capital raised "to finance its Eligible Green Projects, including its energy-efficient, eco-efficient, and circular economy adapted products and the promotion of energy efficiency in production. In addition, the proceeds will fund the company’s sustainable water and wastewater management, pollution prevention control, renewable energy, and green buildings initiatives."
The Clifford Chance team included London-based Partner Matt Fairclough, Senior Associate Jeffery Hung, and Associate Farah Rohaizat. Ciftci Attorney Partnership’s team consisted of Partner Sait Eryilmaz and Associates Basar Kırka and Alican Altiparmak.
The A&O team included Partners Jonathan Melton and Sachin Dave, Counsel Stephanie Dee, Senior Associate Andrew Enga, and Associate Shantanu Dey. Gedik & Eraksoy’s team was led by Partner Umut Gurgey, assisted by Senior Associate Dilsah Gurses, and Associate Burak Ozsoy.