In the announcement made by Sasa Polyester to the Public Disclosure Platform (KAP), it was stated that a decision has been made to apply to the Capital Markets Board (SPK) for the issuance of convertible debt instruments, which will be sold to the majority shareholder Erdemoğlu Holding, subject to certain conditions, up to a maximum of 4 billion TL, without being publicly offered domestically.
Sasa Polyester has announced that it has taken a decision by the board of directors to issue debt instruments for up to 4 billion TL domestically, without a public offering, in the form of convertible debt instruments subject to certain conditions, which are planned to be allocated to the company’s majority shareholder, Erdemoğlu Holding, as stated in the disclosure made to the Public Disclosure Platform (KAP).
According to the announcement, it was stated that the maximum borrowing limit has been set at 4 billion TL.
In the disclosure made by Sasa to the Public Disclosure Platform (KAP), the following statements were included:
“At the Board of Directors meeting of our company held on June 8, 2023; it has been decided to apply to the Capital Markets Board for the issuance of convertible debt instruments, up to a maximum of 4,000,000,000 TL in Turkish Lira, without being publicly offered domestically, with the entire amount planned to be allocated to the majority shareholder Erdemoğlu Holding A.Ş. of the Company, subject to certain conditions. The press release regarding the matter is attached.”