Turkish E-commerce Giant Hepsiburada Launches Third Bond Issue for Hepsifinans Financing.

HEPSİBURADA ANNOUNCES THE THIRD BOND ISSUANCE OF HEPSİFINANS

Istanbul, Turkey - March 25, 2023 - Hepsiburada, a leading e-commerce platform in Turkey, announced today the issuance of its third bond under the Hepsifinans program, with a total value of TRY 1.2 billion (approximately USD 150 million).

The bond issuance, which marks a significant milestone in Hepsiburada's growth strategy, aims to further strengthen the company's financial position and support its continued expansion in the Turkish e-commerce market. The bond will be listed on the Borsa Istanbul (BIST) and will have a 5-year tenor.

"We are thrilled to announce the successful issuance of our third bond, which reflects the confidence of the market in our business model and growth prospects," said Hepsiburada CEO, Çağdaş Çınar. "This transaction will enable us to continue investing in our platform, enhance our offerings, and drive further growth in the Turkish e-commerce market."

The bond issuance was met with strong demand from institutional investors, with the transaction being oversubscribed. The bond will be used to refinance existing debt, fund future growth initiatives, and support the company's ongoing investments in its platform, logistics, and supply chain.

Hepsiburada's Hepsifinans program, which was launched in 2020, has now reached a total value of TRY 4.2 billion (approximately USD 520 million). The program has enabled the company to access the debt capital markets and diversify its funding sources, supporting its rapid growth and expansion in the Turkish e-commerce market.

Hepsiburada is Turkey's leading e-commerce platform, offering a wide range of products and services to millions of customers across the country. The company has experienced rapid growth in recent years, driven by its strong brand, user-friendly platform, and commitment to delivering exceptional customer experiences.