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Moody's Investors Service ("Moody's") assigned a Ba2 rating to the senior unsecured notes to be issued by Turkiye Sise ve Cam Fabrikalari A.S. (Sisecam). Sisecam will issue new 5-7 years USD-denominated benchmark size notes and use the proceeds to repay some of its $500 million senior unsecured notes due 2020 and for general corporate purposes. "The issuance will improve Sisecam's liquidity by lengthening its debt maturity profile.", says Thomas Le Guay, a Moody's Analyst and local market analyst for Sisecam.
Israel-based SodaStream, a carbonated drink-machine maker bought this year by Pepsico for $3.2 billion, is establishing a manufacturing plant in the Gaza Strip, its chief executive said on Thursday. The economy there is stifled by an Israeli-Egyptian blockade on the territory and disputes with the Western-backed Palestinian Authority based in the West Bank. SodaStream CEO Daniel Birnbaum told the Globes business conference that the company's factory in Israel has succeeded with a mixed workforce of Jews and Arabs, and they are looking to expand that.
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PepsiCo (PEP) informed the market Wednesday that the acquisition of SodaStream International Ltd. (SODA) has been completed following the purchase of all outstanding common stock of the company at a price of $144 per share. SodaStream International is an Israel-based company engaged in the production, distribution and sale of home beverage carbonation systems. SodaStream's home beverage carbonation systems transform tap water into sparkling water, which can also be flavored.