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How to access the international markets despite slowing GDP, rising inflation and ratings pressure

Broadcast on Feb 24, 2021 from Livestream: Bonds, Loans & Sukuk Turkey 2021 Virtual Conference

Strategic Partner

Borsa Istanbul

Multilateral Sponsor

ICD

Bronze Sponsor

Bezen & Partners

Bronze Sponsor

Fitch Ratings

Bronze Sponsor

UK Export Finance

Bronze Sponsor

Unsal Law Firm

Supporting Partner

British Chamber of Commerce in Turkey

Supporting Partner

Turkish Institutional Investment Managers Association

Subscribe for access:

  • Where do investors see value in the Turkish credit markets? Who can access the market and at what price?
  • How can/have corporates successfully issued despite the challenging economic backdrop and pressure on ratings?
  • Ratings landscape and regulations on foreign currency: What are the obstacles for bank issuers to access the markets?
  • Can Turkey’s project sponsors sell bonds to international investors to refinance their project finance loans?
  • Out with the old and in with the new (benchmarks): How has a changed macroeconomic landscape trickled down into pricing, spread, duration? What does the new normal for Turkish issuers look like?
CEE & Turkey

Moderator

James Sadler

James Sadler

Head of MENA Debt Capital Markets

BofA Securities

James Sadler

James Sadler

Head of MENA Debt Capital Markets at BofA Securities

James Sadler is Head of Debt Financing Origination for the MENAT region at Bank of America Merrill Lynch. He has more than 14 years' experience in originating and executing financing transactions for corporates, sovereigns and banks in the CEEMEA region, having previously focused on hybrid and regulatory capital instruments for European issuers. He has recently executed financings for the Abu Dhabi and Qatar sovereigns, Mubadala, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Emirates NBD, Damac, and QNB. James joined BofAML in August 2015, having previously worked at BNP Paribas in Bahrain and UBS in London. He holds an MA in Philosophy, Politics & Economics from Oxford University.

For more than 200 years, Bank of America has been helping people around the world connect with what matters most to them. The company is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services.

Bank of America Merrill Lynch is the marketing name for the Global Banking and Markets businesses. Combining local knowledge and global expertise, the company offers products and services across Global Corporate and Investment Banking and Global Markets. In Europe, the Middle East and Africa Bank of America Merrill Lynch has offices in 21 countries across three continents serving the needs of corporate, institutional and government clients.

BofA Securities

James Sadler

At Bank of America, we’re guided by a common purpose to help make financial lives better, through the power of every connection. We’re delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It’s demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News) and LinkedIn (@BofA_Business )

Speakers

Ashwinder Singh Bakhshi

Ashwinder Singh Bakhshi

Managing Director, Financial Sector

Barings

Ashwinder Singh Bakhshi

Ashwinder Singh Bakhshi

Managing Director, Financial Sector at Barings

Barings

Görkem Elverici

Görkem Elverici

Chief Financial Officer

Sisecam

Görkem Elverici

Görkem Elverici

Chief Financial Officer at Sisecam

Görkem Elverici graduated from Middle East Technical University, Faculty of Engineering, Department of Civil Engineering in 1996 and obtained his MBA from Bilkent University in 1998. In 2015, Mr. Elverici completed the Advanced Management Program at Harvard Business School and is currently working on his Ph.D. dissertation on Banking & Finance at Kadir Has University. He began his professional career in Isbank in 1998. Throughout his career, he has worked in various middle and senior management positions at İşbank, HSBC, Deloitte Consulting and Accenture Consulting. Mr. Elverici joined Şişecam Group as the CFO of Şişecam Flat Glass Group on March 1, 2013. Mr. Elverici is the CFO of Şişecam Group since May 2014.

Sisecam

Paul Lund

Paul Lund

Senior Director, Head of EMEA Industrials

Fitch Ratings

Paul Lund

Paul Lund

Senior Director, Head of EMEA Industrials at Fitch Ratings

Paul Lund was appointed Head of Fitch’s Industrial Ratings group for Europe, the Middle East and Africa, in April of 2016. He is ultimately responsible for ratings in a diverse portfolio including automotive, manufacturing, aerospace and defence, packaging, building materials, and construction companies.

Paul has an extensive experience in credit ratings, having joined Standard & Poor’s in 1998, and a subsequent spell at Moody’s, before joining Fitch Ratings in 2014, covering a wide variety of industries and financing structures.

Paul graduated from the University of Liverpool with a B.Eng (Honors) in Mechanical Engineering and Industrial Management.

Fitch Ratings

Paul Lund

Fitch Ratings is a leading provider of credit ratings, commentary, and research. Dedicated to providing value beyond the rating through independent and prospective credit opinions, Fitch Ratings offers global perspectives shaped by strong local market experience and credit market expertise. The additional context, perspective, and insights we provide help investors to make important credit judgments with confidence.

Fitch Group is a global leader in financial information services with operations in more than 30 countries. Fitch Group is comprised of: Fitch Ratings, a global leader in credit ratings and research; Fitch Solutions, a leading provider of credit market data, analytical tools and risk services; and Fitch Learning, a preeminent training and professional development firm. With dual headquarters in London and New York, Fitch Group is owned by Hearst.

For additional information, please visit fitchratings.com.

LinkedIn Page: www.linkedin.com/company/fitch-ratings

Cenker Uçan

Cenker Uçan

Group Chief Financial Officer

Ülker Bisküvi Sanayi

Cenker Uçan

Cenker Uçan

Group Chief Financial Officer at Ülker Bisküvi Sanayi

Cenker Uçan started his career in PricewaterhouseCoopers Turkey in 2001 and served in different positions. He led audit engagements of companies operating in a wide range of industries, banks and conglomerates in accordance with IFRS, CMB and BRSA regulations and took major additional responsibilities in the PwC. He joined Yıldız Holding in 2010 and appointed as the Group CFO of the Food and Beverage Division of Yıldız Holding in 2011 and has been in charge of finance functions for companies operating in edible oil and fats, dairy, beverage, culinary sectors.

He has been appointed as CFO of Ulker Bisküvi as at May 2016. Between 2016 and 2018, he led the acquisitions of Saudi, Egypt, Kazakhstan and Dubai operations and integration process to the Group. Despite COVID 19 difficult macro-economic environment, under his leadership Ulker Bisküvi has issued Eurobond amounting to 650 mio USD by getting 4 times oversubscription and Ulker Bisküvi became the first Turkish corporate issuer in 2020.

Ülker Bisküvi Sanayi

Sule Kilic

Sule Kilic

Sule Kilic

Deputy Country Director at European Bank for Reconstruction and Development

Sule Topcu Kilic is the Deputy Head, Turkey at the European Bank for Reconstruction and Development (EBRD). She has been with EBRD since 2014 and reports directly to the Managing Director, assisting him to deliver the country strategy with a specific focus on infrastructure, energy and natural resources sectors and deputize him for the Bank’s operations (administration and budgeting) and lead the policy initiatives in Turkey for infrastructure, energy and natural resources sectors.

Sule Kilic has over 24 years of experience working on a variety of projects in project finance, financial advisory, M&A, private equity, bank acquisition.

During the last 12 year of her career, she took an active leading role in the development of BOT and PPP models in Turkish Transportation and Social Infrastructure Projects in Turkey, by taking a leading role in the preparation of legal framework and introduction of financing related regulations as well as the structuring and negotiations of the template Project Agreements with the relevant governmental authorities (including Ministry of Transportation, Ministry of Health and Turkish Treasury). She also took an active role in the coordination of various stakeholders’ efforts to develop the project financing models to achieve the successful finalization of the projects in Turkish PPP Healthcare Programme as well as Transportation BOT programme.

Before joining the EBRD, Sule has spent six and half years at Unicredit Group, most recently as Managing Director leading project finance activities for the Investment Banking Platform in Turkey.

Prior to Unicredit, Sule held an array of Directorships and Vice Presidencies in project and structured finance, private equity in organisations such as Bayerische Hypo und Vereinsbank (Istanbul), Garanti Bank (Istanbul), Emporiki Private Equity (Athens & Istanbul), CitiBank (Istanbul) and Privatisation Administration (Ankara).

Sule is a Turkish national with a PhD in Finance from Boğaziçi (Bosphorus) University, a Master’s (MBA and MSc) degree from Manchester School of Management (UMIST) (with distinction degree) and BSc in Industrial Engineering from Istanbul Technical University (ITU). She is born in1970 in Gaziantep. She is married and has 2 children.

European Bank for Reconstruction and Development