| Issuer / Guarantor | SASA Dis Ticaret AS |
|---|---|
| Size | EUR 415mn |
| Type | Convertible |
| Leads | BNP Paribas, HSBC, JP Morgan |
| Maturity | 15 Jan 2031 (5 years) |
| Coupon | 4.75% (4.5 - 5%) |
| Premium | 20% (20 - 25%) |
| Calls | @ 100% from Feb 2029 (3.1 yrs); 130% trigger |
| Puts | 3yrs @ 100% |
| Div protection | Ratio adjustment (Full) |
| T/o protection | c/t ratchet |
| CoCo | None |
| Announced | 07 Jan 2026 |