BONDS & LOANS TURKEY AWARDS 2018
Financial Institutions Deal of Year:
Yapi ve Kredi Bankası A.Ş. (June 2017)
TRY500,000,000
13.125% RegS Eurolira Issuance under GMTN Programme due June 2020
Global Coordinator and Underwriter: HSBC
T. Is Bankası A.S. (August 2017)
TRY1,100,000,000
+350bp over 5Y Turkish Treasuries 10YNC5 Basel III-Compliant Tier2 TRY Denominated Domestic FRN Issue
Mandated Lead Arranger: Is Yatirim Menkul Degerler A.S.
Legal Advisor to Issuer: Yazıcı Law Offices
Akbank T.A.Ş. (March 2017)
US$500,000,000
7.200% 10NC5 RegS/144A Basel III-Compliant Tier2 Notes
Joint Lead Managers and Bookrunners: Bank of America Merrill Lynch; Citi; Goldman Sachs; HSBC; Societe Generale; Standard Chartered
Legal Advisor to Issuer: Baker McKenzie; Esin Attorney Partnership
Legal Advisors to JLM: Allen&Overy; Gedik&Eraksoy
Türkiye İş Bankası A.Ş. (October 2016)
US$600,000,000
5.50% Senior Unsecured 144A/RegS Bond due April 2022
Bookrunners: Commerzbank; Bank of America Merrill Lynch; MUFG; First Abu Dhabi Bank (FAB); Standard Chartered Bank
Legal Advisors to Issuer: Mayer Brown; Yazıcı Legal
Legal Advisors to JLM: Allen&Overy; Gedik&Eraksoy
International Bond Deal of the Year:
Akbank T.A.Ş. (March 2017)
US$500,000,000
7.200% 10NC5 RegS/144A Basel III-Compliant Tier2 Notes
Joint Lead Managers and Bookrunners: Bank of America Merrill Lynch; Citi; Goldman Sachs; HSBC; Societe Generale; Standard Chartered
Legal Advisor to Issuer: Baker McKenzie; Esin Attorney Partnership
Legal Advisors to JLM: Allen&Overy; Gedik&Eraksoy
Türkiye Sinai Kalkınma Bankası A.Ş. (March 2017)
US$300,000,000
7.625% RegS Green Bond due in March 2027
Global Coordinators and Bookrunners: Citi, Standard Chartered Bank
Bookrunners: HSBC, JPMorgan, Societe Generale
Legal Advisor to Issuer: Linklaters
Legal Advisor to JLMs: Allen & Overy
Coca-Cola Icecek (September 2017)
US$500,000,000
4.215% Senior Unsecured Bond due September 2024
Bookrunners: BNP Paribas, Citi, JPMorgan, HSBC, MUFG
Legal Advisor to Issuers: Dentons; Balcıoglu Selcuk
Legal Advisors to JLM: Allen&Overy; Gedik&Eraksoy
Türkiye İş Bankası A.Ş. (October 2016)
US$600,000,000
5.50% Senior Unsecured 144A/RegS Bond due April 2022
Bookrunners: Commerzbank; Bank of America Merrill Lynch; MUFG; First Abu Dhabi Bank (FAB); Standard Chartered Bank
Legal Advisors to Issuer: Mayer Brown; Yazıcı Legal
Legal Advisors to JLM: Allen&Overy; Gedik&Eraksoy
Local Bond Deal of the Year
Turkcell Finansman A.S. (December 2016)
TRY250,000,000
Local Bond due June 2017
Deal Manager: Ak Yatırım Menkul Degerler A.S.
Enerjisa Enerji A.Ş. (July 2017)
TRY335,000,000
Turkish CPI + %5,00 Local Bond due July 2022
Deal Manager: Ak Investment
Akbank T.A.Ş. (October 2017)
TRY536,280,000 Bond due October 2023
Purchaser: IFC
Legal Advisor to Issuer: Linklaters LLP; Paksoy Ortak Avukat Bürosu
Legal advisor to Purchaser: Allen & Overy; Gedik & Eraksoy Avukatlık Ortaklığı
Türkiye Halk Bankası A.Ş. (October 2017)
TRY1,000,000,000
+350bp over 5Y Government Domestic Borrowing Securities (GDBS) 10YNC5 Basel III-Compliant Tier2 Notes
Underwriter, Bookrunner and Structuring Bank: Halk Yatırım Menkul Değerler A.Ş.
Structuring Bank: Halkbank
Transport Finance Deal of the Year
Marmara Otoyol İnşaatı Adi Ortaklığı Ticari İşletmesi (February 2017)
€607,500,000
Motorway PPP Bridge Loan due September 2018
Sponsors: Cengiz İnşaat Sanayi ve Ticaret A.Ş.; Limak İnşaat Sanayi ve Ticaret A.Ş.; Kolin İnşaat Turizm Sanayi ve Ticaret A.Ş.; Kalyon İnşaat Sanayi ve Ticaret A.Ş.; RSY İnşaat Sanayi ve Ticaret A.Ş.; Pak Yatırım İnşaat Sanayi ve Ticaret A.Ş
Mandated Lead Arrangers: Türkiye Garanti Bankası A.Ş.; T.C. Ziraat Bankası A.Ş.; Türkiye Halk Bankası A.Ş.; Türkiye İş Bankası A.Ş.; Finansbank A.Ş.; Turkiye Vakıflar Bankası T.A.O.
Legal Advisor to Borrower: Lexist Attorneys at Law
Legal Advisor to JLMs: Verdi Attorneys at Law
Fraport - IC Içtaş Antalya Havalimanı Terminal Yatırım ve İşletmeciliği A.Ş. (ICF Antalya Airport) (July 2017)
€362,300,000
Triple-tranche Loan for the Refinancing of the Senior Debt Facility of ICF Antalya Airport due December 2023 (cash facilities) and June 2025 (non-cash facilities)
Sponsors: Fraport AG; IC İbrahim Çeçen Yatırım Holding A.Ş.
Mandated Lead Arranger: Akbank T.A.Ş.
Legal Advisor to the Borrower: Freshfields Bruckhaus Deringer; Ergün Law Office
Legal Advisor to the JLMs: White & Case LLP; Çakmak-Gökçe Law Office
Turkish Airlines Inc. (June 2017)
US$550,000,000
Financing of 4 Widebody and 4 Narrowbody Turkish Airlines Aircraft with CMB Financial Leasing Co., Ltd due February 2027-June 2029
Mandated Lead Arranger: CMB Financial Leasing Co.
Legal Advisor to Borrower: Clyde & Co; Holman Fenwick Willan LLP (HFW)
Legal Advisor to JLMs: Clifford Chance; Bird & Bird; Dikici Law Office
Syndicated Loan Deal of the Year:
Boğaziçi Elektrik Dağıtım A.Ş.; CK Boğaziçi Elektrik Perakende Satış A.Ş.; Akdeniz Elektrik Dağıtım A.Ş.; CK Akdeniz Elektrik Perakende Satış A.Ş.; Çamlıbel Elektrik Dağıtım A.Ş.; CK Çamlıbel Elektrik Perakende Satış A.Ş. (March 2017)
US$222,000,000
Multi-tranche loan facility due May 2027
Concessionaires: BEDA Enerji Dağıtım ve Perakende Satış Hizmetleri A.Ş.; AKDEN Enerji Dağıtım ve Perakende Satış Hizmetleri A.Ş.; Çamlı Enerji Dağıtım ve Perakende Satış Hizmetleri A.Ş.
Sponsors: Kolin İnşaat Turizm Sanayi ve Ticaret A.Ş.; Cengiz Holding A.Ş.
Mandated Lead Arranger and Security Agent for Boğaziçi: Türkiye Garanti Bankası A.Ş.
Mandated Lead Arranger and Security Agent for Akdeniz: Yapi ve Kredi Bankasi A.S.
Mandated Lead Arranger and Security Agent for Çamlı: Türkiye Sinai Kalkınma Bankası A.Ş.
Mandated Lead Arranger and Facility Agent: Türkiye İş Bankası A.Ş.
Legal Advisor to the Borrower: Çakmak-Gökçe
Limak Hidroelektrik Santral Yatirimlari A.Ş. and Çetin Enerji A.Ş. (July 2017)
US$470,000,000
Loan Facilities for the Refinancing of Alkumru Dam (280 MW) and Financing of Greenfield Investments of Çetin Dam (420 MW) due July 2030
Joint Lead Managers: Türkiye Garanti Bankası A.Ş.; Türkiye Halk Bankası A.Ş.; Türkiye İş Bankası A.Ş.; Yapi ve Kredi Bankasi A.S.; T.C.Ziraat Bankasi A.S.
BAŞKENT KURUMSAL ŞUBESİ
BAŞKENT KURUMSAL BANKACILIK MERKEZİ ŞUBESİ
Financial Advisor: EY
Legal Advisor to Borrower: Çetinkaya Avukatlık Ortaklığı
Legal Advisor to JLMs: Çakmak-Gökçe Avukatlık Bürosu; White & Case LLP; Çakmak Avukatlık Bürosu
IC İçtaş Elektrik, TREDAŞ and TREPAŞ (November 2016)
US$670,000,000
Loan Facility due in November 2031
Lead Arrangers: Türkiye Garanti Bankası A.Ş.; Türkiye İş Bankası A.Ş.; Türkiye Sınai Kalkınma Bankası A.Ş.; Türkiye Vakıflar Bankası T.A.O.; EBRD
Legal Advisor to Borrower: Omelegal
Legal Advisor to JLMs: Çakmak-Gökçe Avukatlık Bürosu; White & Case LLP; Çakmak Avukatlık Bürosu
UMV Global Foods Company Ltd. ("United Biscuits") (August 2017)
£725,000,000
Triple-tranche Loan Facility due in August 2022
Global Coordinator, Mandated Lead Arranger and Bookrunner: Bank of America Merrill Lynch
Mandated Lead Arrangers and Bookrunners: HSBC; ABN Amro; ING; Rabobank; BNP Paribas; JPMorgan
Lead Arrangers: Bank of China; Bank of Ireland; Bank of Communications; Mizuho; SMBC; Goldman Sachs; Mediobanca; DZ Bank; KBC; Societe Generale; RBI; AIB; ICICI; Siemens
Legal Advisor to Borrower: Linklaters
Legal Advisor to JLMs: Latham & Watkins
Natural Resources
Kangal Elektrik Enerji Uretim ve Ticaret A.S. (July 2017)
€156,600,000
Three-Phase Multi-tranche Project Finance Loan (including ECA Tranche and Local Commercial Tranche); with commercial loans due in October 2026, February 2027, and July 2029; and ECA loans due in October 2031, February 2032 and July 2034
Sponsors: Ece Tur Ece Turizm Insaat Ticaret ve Magaza Isletmeciligi A.S.
Lead Arranger on all Three Phases: Turkiye Is Bankası A.S.
Lead Arranger on Phase 1 and 2: Landesbank Berlin AG
Lead Arranger on Phase 3: Banco de Sabadell SA
Legal Advisor to Joint Lead Managers: Cakmak - Gokce Avukatlik Burosu; Clifford Chance
Limak Hidroelektrik Santral Yatirimlari A.Ş. and Çetin Enerji A.Ş. (July 2017)
US$470,000,000
Loan Facilities for the Refinancing of Alkumru Dam (280 MW) and Financing of Greenfield Investments of Çetin Dam (420 MW) due July 2030
Joint Lead Managers: Türkiye Garanti Bankası A.Ş.; Türkiye Halk Bankası A.Ş.; Türkiye İş Bankası A.Ş.; Yapi ve Kredi Bankasi A.S.; T.C.Ziraat Bankasi A.S.
BAŞKENT KURUMSAL ŞUBESİ
BAŞKENT KURUMSAL BANKACILIK MERKEZİ ŞUBESİ
Financial Advisor: EY
Legal Advisor to Borrower: Çetinkaya Avukatlık Ortaklığı
Legal Advisor to JLMs: Çakmak-Gökçe Avukatlık Bürosu; White & Case LLP; Çakmak Avukatlık Bürosu
Anagold Madencilik Sanayi ve Ticaret A.Ş. (April 2017)
US$350,000,000
Syndicated Senior Project Finance Facility for the Expansion of the Copler Gold Mine due April 2025
Mandated Lead Arrangers: BNP Paribas, ING, Unicredit, Societe Generale
Legal Advisor to the Borrower: Esin Attorney Partnership
Legal Advisor to the Joint Lead Managers: Norton Rose
Kalehan Genç Enerji Üretim A.Ş. (November 2016)
US$500,000,000
EUR/US$ Multi-currency Loan Facility for development of Aşağı Kaleköy Hydro Power Plant due in December 2030
Mandated Lead Arranger and Facility Agent: Türkiye Garanti Bankası A.Ş.
Mandated Lead Arranger: T.C. Ziraat Bankası A.Ş.
Legal Advisor to the Borrower: Gökçe
Legal Advisor to the JLMs: Çakmak-Gökçe
Technical Advisor: Dolsar
Environmental Advisor: Golder
Insurance Advisor: Aon
Model Auditor: EY
Structured Finance Deal
Yeni Elektrik Üretim A.Ş. (August 2017)
US$ 120,000,000
Structured loan facility for the refinancing of senior debt and the introduction of junior debt due in June 2025
Sponsors: Unit Investment N.V.; Ansaldo Energia S.p.A.
Mandated Lead Arranger and Security Agent: Türkiye İş Bankası A.Ş.
Mandated Lead Arrangers: Türkiye Vakıflar Bankası T.A.O.; Türkiye Garanti Bankası A.Ş.; Yapi ve Kredi Bankasi A.S.
Legal Advisor to Borrower: Clifford Chance
Legal Advisor to Obligor: NautaDutilh N.V.; Chiomenti Studio Legale
Legal Advisor to JLMs: White & Case LLP; Çakmak-Gökçe Avukatlık Bürosu
YDA Construction Industry and Trade Inc. (May 2017)
€177,000,000
Structured PPP Loan for Development of Manisa Education Research Hospital due October 2034
Concessionaire: ATM Sağlık Manisa Yatırım ve İşletme A.Ş.
Mandated Lead Arranger and Security Agent: Ziraat Katılım Bankası A.Ş.
Mandated Lead Arrangers: Islamic Development Bank (IsDB), Islamic Corporation for Development of the Private Sector (ICD), Opec Fund for International Development (OFID), Siemens Bank GmbH,
Legal Advisor to the Borrower: Akol Özok Namlı Attorney Partnership; Gunduz Law Office
Legal Advisor to the JLMs: Allen & Overy; Gedik Eraksoy Law Office
Financial Advisor: Pragma Finansal Danışmanlık Hizmetleri Ticaret A.Ş.
Other Advisors: BTY Group, JLT Group, AON, MGS, KPMG
Trakya Electricity Distribution Company (TREDAS), Trakya Retail (TREPAS) and IC İçtaş Elektrik (ICEL) (November 2016)
US$578,000,000
Multi-tranche Structured Loan Facility for New Capex Financing and Refinancing of Existing Facilities due November 2031
Sponsors: IC İçtaş İnşaat A.Ş.
Mandated Lead Arranger and Facility Agent: Garanti Bank AS
Mandated Lead Arranger and Security Agent: Is Bank
Mandated Lead Arrangers: EBRD, TSKB AS, Vakıfbank AS
Legal Advisor to Borrower: Reed Smith
Legal Advisor to Joint Lead Managers: White & Case; Çakmak-Gökçe
Advisors: AF Mercados; Aecom, Aon
Turkcell Finansman A.S. (April 2017)
TRY100,000,000
Asset Backed Local Currency Bond due July 2017, October 2018, January 2018, April 2018, July 2018, October 2018, and December 2018
Tranche 2: 10.10.2017
Deal Manager: Aktif Yatırım Bankası A.S.
Infrastructure Finance Deal
YDA Construction Industry and Trade Inc. (May 2017)
€177,000,000
Structured PPP Loan for Development of Manisa Education Research Hospital due October 2034
Concessionaire: ATM Sağlık Manisa Yatırım ve İşletme A.Ş.
Mandated Lead Arranger and Security Agent: Ziraat Katılım Bankası A.Ş.
Mandated Lead Arrangers: Islamic Development Bank (IsDB), Islamic Corporation for Development of the Private Sector (ICD), Opec Fund for International Development (OFID), Siemens Bank GmbH,
Legal Advisor to the Borrower: Akol Özok Namlı Attorney Partnership; Gunduz Law Office
Legal Advisor to the JLMs: Allen & Overy; Gedik Eraksoy Law Office
Financial Advisor: Pragma Finansal Danışmanlık Hizmetleri Ticaret A.Ş.
Other Advisors: BTY Group, JLT Group, AON, MGS, KPMG
İkitelli Integrated Health Campus (Ronesans)
Fraport - IC Içtaş Antalya Havalimanı Terminal Yatırım ve İşletmeciliği A.Ş. (ICF Antalya Airport) (July 2017)
€362,300,000
Triple-tranche Loan for the Refinancing of the Senior Debt Facility of ICF Antalya Airport due December 2023 (cash facilities) and June 2025 (non-cash facilities)
Sponsors: Fraport AG; IC İbrahim Çeçen Yatırım Holding A.Ş.
Mandated Lead Arranger: Akbank T.A.Ş.
Legal Advisor to the Borrower: Freshfields Bruckhaus Deringer; Ergün Law Office
Legal Advisor to the JLMs: White & Case LLP; Çakmak-Gökçe Law Office
İstanbul PPP Sağlık Yatırım A.Ş. (July 2017)
¥203,700,000,000
Triple-tranche Structured Equity and Debt Financing Facilities due July 2035
Concessionaires: Rönesans Holding A.Ş.; Rönesans Sağlık Yatırım A.Ş.; Sojitz Corporation
ECA: NEXI
Mandated Lead Arrangers: SMBC, MUFG, Standard Chartered Bank
Legal Advisors to Borrower: Willkie Farr & Gallagher; Bezen & Partners
Legal Advisor to JLMs: White&Case, Ergün Law Office
Kocaeli Hastane Yatırım ve Saglık Hizmetleri A.Ş. (March 2017)
PPP Loan Facility due in January 2035
Mandated Lead Arrangers: EBRD, OPIC, EDC
Financial Advisor, and Security and Investment Agent: Unicredit
Financial Advisor: Yapı ve Kredi Bankasi A.Ş.
Legal Advisor to the Borrower: Çakmak Avukatlık Bürosu; White & Case LLP
Legal Advisor to JLMs: Freshfields Bruckhaus Deringer LLP; Herguner Bilgen Ozeke Attorney Partnership
Trade & Export Finance Deal of the Year:
KIPAŞ MENSUCAT IŞLETMELERI A.Ş., KEN KIPAŞ ELEKTRIK URETIM A.Ş.,; MAREN MARAŞ ELEKTRIK URETIM SAN. VE TİC. A.Ş. (May 2017)
€39,615,166
Multi-tranche Export Credit Facility due in May 2027
Mandated Lead Arranger: HSBC
Legal Advisor to the JLMs: Pekin & Bayar; Norton Rose Fulbright
Hanwha Energy Corporation (December 2016)
US$31,100,000
Dual tranche Project Finance Loan Facility due in December 2028 and March 2029
Sponsors: Hanwha Energy Corporation; Primo Güneş Enerjisi A.Ş.
ECA: K-EXIM
Mandated Lead Arranger: Yapı ve Kredi Bankası A.Ş.
Legal Advisor to the Borrower: Falke Law and Tax Advisory
Lead Advisor to the JLMs: Çakmak & Gökçe
Türkiye İş Bankası A.Ş.; DITAS (April 2017)
US$96.325.000
ECA Covered Loan Facility due in October 2025
ECA: K-EXIM
Olgu Enerji Yatırım Üretim ve Ticaret A.Ş. (April 2017)
€66,961,281
95% Hermes supported facility to Olgu Energi to finance the supply of equipment from GE for the expansion of Dinar WPP due in April 2027
ECA: Hermes
Lead Arranger: HSBC
Legal Advisor to the JLMs: Dentons; Balcıoğlu Selçuk Akman Keki
M&A / Acquisition Finance Deal of the Year:
Yılport Konteyner Terminali ve Liman İşletmeleri A.Ş. (January 2017)
US$200,000,000
Acquisition Financing Facility of Yılport's Purchase of Solventaş Teknik Depolama A.Ş. due in January 2030
Mandated Lead Arranger: Yapı ve Kredi Bankası A.Ş.
Legal Advisor to the Borrower: Esin Attorney Partnership
Legal Advisor to the JLMs: Yazıcı Legal
Lastmile Kargo A.Ş. (Turkven) (August 2017)
US$158,000,000
Triple-tranche, USD/TRY dual-currency Acquisition Financing Facility for the Purchase of MNG Kargo due August 2024
Mandated Lead Arranger: Akbank T.A.Ş.
Legal Advisor to the Borrower: Çakmak-Gökçe Avukatlık Bürosu
Legal Advisor to the JLMs: Çetinkaya Avukatlık Ortaklığı
Actera Group (April 2017)
€208,000,000
Acquisition Financing Facility for the Purchase of Korozo Ambalaj and Koroplast due in 7 tears from the date of first utilisation
Mandated Lead Arranger and Security Agent: Türkiye İş Bankası A.Ş.
Mandated Lead Arranger: Türkiye Sınai Kalkınma Bankası A.Ş.
Legal Advisor for the Borrower: Verdi Avukatlık Ortaklığı
Legal Advisors for the JLMs: Çakmak-Gökçe Avukatlık Bürosu; White&Case LLP; Jeantet AARPI; Vandenbulke
Vitol (VIP) Turkey Enerji A.Ş. (June 2017)
US$500,000,000 and TRY720,000,000
Dual-tranche Acquisition Financing Facility for the Purchase of OMV Petrol Ofisi A.Ş. due in June 2022 (USD tranche) and June 2019 (TRY tranche)
Coordinators, Structuring Bank, Security Agent and Mandated Lead Arranger: ING Bank N.V.
Coordinators, Structuring Bank and Mandated Lead Arranger: Akbank T.A.S
Mandated Lead Arrangers: HSBC; Qatar National Bank; Finansbank; Isbank; Garanti
Legal Advisor to the Borrower: Allen & Overy; Gedik & Eraksoy
Legal Advisor to the JLMs: Linklaters; Esin Attorney Partnership
Project Finance Deal of the Year:
Limak Hidroelektrik Santral Yatirimlari A.Ş. and Çetin Enerji A.Ş. (August 2017)
US$460,000,000
Multi-tranche Project Finance Loan for Refinancing of Alkumru Hydro-Electric Power Plant and Financing of Çetin Hydro-Electric Power Plant due in August 2030
Mandated Lead Arrangers: Türkiye İş Bankasi A.Ş.; Türkiye Garanti Bankasi A.Ş.; Türkiye Halk Bankasi A.Ş.; Yapi ve Kredi Bankasi A.Ş.; T.C. Ziraat Bankasi A.Ş.
Legal Advisor to the Borrower: Çetinkaya Avukatlık Ortaklığı
Legal Advisor to the JLMs: White & Case LLP; Çakmak - Gökçe Avukatlık Bürosu
Kocaeli Hastane Yatırım ve Saglık Hizmetleri A.Ş. (March 2017)
PPP Loan Facility due in January 2035
Mandated Lead Arrangers: EBRD, OPIC, EDC
Financial Advisor, and Security and Investment Agent: Unicredit
Financial Advisor: Yapı ve Kredi Bankasi A.Ş.
Legal Advisor to the Borrower: Çakmak Avukatlık Bürosu; White & Case LLP
Legal Advisor to JLMs: Freshfields Bruckhaus Deringer LLP; Herguner Bilgen Ozeke Attorney Partnership
IC Ictas Elektrik Tic. A.S., Trakya Elektrik Dagıtım A.S.(TREDAS),Trakya Elektrik Perakende Satıs A.S.(TREPAS) (November 2016)
US$685,000,000
USD/TRY Dual currency Project Finance Loan due in December 2029 and December 2031
Mandated Lead Arrangers: Türkiye İş Bankasi A.Ş. Başkent Kurumsal Ankara Şubesi; Türkiye Garanti Bankasi A.Ş.; Türkiye Vakıflar Bankası T.A.O.; EBRD; Tukiye Sınai Kalkınma Bankası A.Ş.
Legal Advisor to the JLMs: White & Case LLP; Çakmak - Gökçe Avukatlık Bürosu
Elaziğ PPP Project (December 2016)
€288,000,000
Dual-tranche PPP Project Bond due in December 2036
Sponsors: Ronesans Group; Meridiam Eastern Europe Sarl; Şam; Sıla; TTT
Mandated Lead Arranger: HSBC
Legal Advisor to the Borrower: Bezen & Partners; Willkie, Farr and Gallagher LLP
Legal Advisor to the JLMs: Clifford Chance
Islamic Capital Markets
ZORLU ENERJİ ELEKTRİK ÜRETİM A.Ş. (October 2017)
TRY200,000,000
16.00% Dual-tranche Sukuk due in October 2018 and October 2019
Mandated Lead Arranger: KATILIM VARLIK KİRALAMA A.Ş.
Legal Advisor to the Issuer and JLMs: VAKIF YATIRIM MENKUL KIYMETLER A.Ş.
KUVEYT TÜRK KATILIM BANKASI A.Ş. (November 2016)
US$500,000,000
5.136% Sukuk due in November 2021
Global Coordinator and Bookrunner: KFH Capital Investment Company K.S.C.C.
Joint Lead Managers and Bookrunners: BankABC, Dubai Islamic Bank, EmiratesNBD, Qinvest, Standard Chartered Bank
Legal Advisor to the Issuer: Clifford Chance
Legal Advisor to the JLMs: King & Spalding; Mutlu Law Firm
The Republic of Turkey (April 2017)
US$1,250,000,000
5.004% Sukuk due in April 2023
Mandated Lead Arrangers: Standard Chartered Bank; Dubai Islamic Bank; HSBC
Legal Advisors to the Issuer: Arnold & Porter LLP; Paksoy Ortak Avukat Bürosu
Legal Advisor to the JLMs: Clifford Chance LLP; Yegin Çiftçi Attorney Partnership
Ziraat Katılım Bankası A.Ş. (May 2017)
US$160,000,000 and €69,000,000
Syndicated Murabaha Facility due May 2018
Mandated Lead Arrangers: Bank ABC; Dubai Islamic Bank; Emirates NBD; HSBC; Kuveyt Turk; Standard Chartered Bank; Warba; BBK; Mashreq
Lead Arrangers: Noor Bank; United Arab Bank
Legal Advisors for JLMs: Esin Attorney Partnership; Norton Rose
BONDS & LOANS TURKEY AWARDS 2019
144a/RegS Bond/Sukuk Deal of the Year:
1st -Turkcell İletişim Hizmetleri A.Ş. (“Turkcell”)
US$500,000,000
April 2018
Senior Unsecured 144a/RegS Eurobond due in April 2028
5.80%
Joint Lead Managers:
Legal Advisors to the Issuer:
Legal Advisors to the JLMs:
2nd -Türkiye Petrol Rafinerileri (Tupras)
US$700,000,000
October 2017
4.500%
Senior Unsecured 144a/RegS Eurobond due October 2024
Joint Lead Managers:
Citi
HSBC
JPMorgan
Standard Chartered Bank
Legal Advisors to the Issuer:
Herbert Smith Freehills
Legal Advisors to the Underwriter:
Allen & Overy
3rd -Türkiye Vakiflar Bankasi T.A.O. (“VakifBank”)
US$650,000,000
January 2018
5.750%
Senior Unsecured Fixed Rate Notes due in January 2023
Bookrunners:
Legal Advisor to the Issuer:
Legal Advisor to the JLMs:
Legal Advisor to the Joint Lead Arrangers:
Allen & Overy
Corporate Debt Deal of the Year:
1st -Ciner Group
US$1,660,000,000
August 2018
Syndicated Loan due in August 2025
Mandated Lead Arrangers and Bookrunners:
DenizBank
Goldman Sachs
Bank of China
Türkiye İş Bankası
Legal Advisor to the JLMs:
White & Case
GKC Partners
Legal Advisor to the Borrower:
Morgan Lewis
DDEM Law
2nd -Turkcell İletişim Hizmetleri A.Ş. (“Turkcell”)
US$500,000,000
April 2018
Senior Unsecured 144a/RegS Eurobond due in April 2028
5.80%
Joint Lead Managers:
Legal Advisors to the Issuer:
Legal Advisors to the JLMs:
3rd-Türkiye Petrol Rafinerileri (Tupras)
US$700,000,000
October 2017
4.500% bridge
Senior Unsecured 144a/RegS Eurobond due October 2024
Joint Lead Managers:
Citi
HSBC
JPMorgan
Standard Chartered Bank
Legal Advisors to the Issuer:
Herbert Smith Freehills
Legal Advisor to the Underwriter:
Allen & Overy
Financial Institutions Deal of the Year
1st -Albaraka Türk Katılım Bankası A.Ş.
US$205,000,000
February 2018
10.00%
RegS Private Placement Basel-3 Compliant Tier 1 Perpetual Sukuk
Bookrunners:
Bank ABC,
Emirates NBD
Noor Bank
Standard Chartered Bank
Qinvest
Legal Advisor to the Issuer
Norton Rose Fulbright
Paksoy
Legal Advisor to the JLMs:
Clifford Chance and Yegin Ciftci
2nd -Türkiye Vakiflar Bankasi T.A.O. (“VakifBank”)
US$650,000,000
January 2018
5.750%
Senior Unsecured Fixed Rate Notes due in January 2023
Bookrunners:
Legal Advisor to the Issuer:
Legal Advisor to the JLMs:
Legal Advisor to the Joint Lead Arrangers:
Allen & Overy
3rd -Akbank TAS
US$400,000,000
February 2018
6.797%
10NC5 Basel 3 Compliant Tier 2 Notes due in April 2028
Bookrunners:
HSBC Bank
BNP Praibas
Citi
Mizuho
MUFG
Societe Generale
Legal Advisors to the Issuer:
Legal Advisors to the JLMs:
Local Currency Bond/Sukuk Deal of the Year
1st- - Halk Varlik Kiralama Toprak Mahsulleri Ofisi
TRY100,000,000
July 2018
18.50%
Sukuk Al Wakalah Bil Istithmar due in October 2018
Bookrunners:
Halk Invest – Halk Yatirim?
Legal Advisor to the Issuer
Ayaz Law Firm
Legal Advisor to the JLMs:
Akol Ozok Namlı Attorney Partnership
2nd -Zorlu Osmangazi Enerji
TRY175,000,000
December 2017
Dual-Tranche Local Currency Bond due June 2019 and December 2020
2YTRYGB+475bp / 3MTRLIBOR +525bp
Lead Arranger:
Ak Investment
Legal Advisor to Anchor Investor
3rd -YDA Insaat Sanayi ve Ticaret
TRY400,000,000
December 2017
Dual-Tranche Local Currency Bond due February 2020 and March 2022
17.49% / 18.17%
Bookrunners:
Is Investment
Ziraat Yatrim –
Legal Advisors:
Gündüz Law Office
Bezen & Partners Law Office
Syndicated Loan Deal of the Year
1st -Akbank Turk A.S
EUR591,000,000 and US$285,000,000
Sept 2018
Dual-tranche Multi-Currency Syndicated Loan due in September 2019
Co-ordinators, Bookrunners and Mandated Lead Arrangers:
Standard Chartered Bank
ICBC Turkey Yatırım Menkul Değerler
Bank of America Merrill Lynch
2nd -Ciner Group
US$1,660,000,000
August 2018
Syndicated Loan due in August 2025
Mandated Lead Arrangers and Bookrunners:
DenizBank
Goldman Sachs
Bank of China
Türkiye İş Bankası
Legal Advisor to the JLMs:
White & Case
GKC Partners
Legal Advisers to the Borrower:
Morgan Lewis
DDEM Law
3rd -Karadeniz Energy Group
US$250,000,000
April 2018
Syndicated Medium-Term Loan Facility due in July 2022
Bookrunners:
Bank of America Merrill Lynch
Standard Chartered Bank
Bank ABC
ICBC Turkey
Credit Suisse
Siemens Bank
KEB Hana
Legal Advisor to the Borrower:
Clifford Chance
Legal Advisor to the JLMs:
Dentons
Power Finance Deal of the Year
1st -Soyak Group
US$167,600,000
March 2018
Cash and non-cash Project Finance Facility due in March 2030
Mandated Lead Arrangers:
T. Garanti Bankası A.Ş
Türkiye Sınai Kalkınma Bankası A.Ş.
Akbank T.A.Ş.
Legal advisor to the Borrower:
Selvi & Ertekin Attorney Partnership
Legal advisor to the JLMs:
Verdi Law Firm-
2nd-Maspo Enerji Sanayi ve Ticaret A.Ş.
US$183,000,000
July 2018
Structured Finance Facility (Including Conventional and Murabaha Facilities and Financial Leasing) due in July 2031
Bookrunners and Creditors:
T.C. Ziraat Bankası A.Ş.
T.C. Halk Bankası A.Ş.
Türkiye Vakıflar Bankası T.A.O.
Kuveyt Türk Katılım Bankası A.Ş.
Legal Advisor to the Borrowers
GSI Göksu Safi Işık Attorney Partnership
Legal Advisor to the JLMs:
Selvi Ertekin Law Office
3rd-Demirer Enerji Üretim San. ve Tic. A.Ş.
US$7,000,000 Commercial Loan, US$27,000,000 MidSEFF Loan and EUR48,000,000 Covered Loan
June 2018
Multi-tranche part ECA-backed project finance facility due in:
July 2027 (MidSEFF Loan)
October 2019 (Commercial Loan)
2033 (ECA-covered Loan)
Lenders:
Euler Hermes Aktiengeselschaft
Bayern LB
Akbank T.A.Ş.
Legal Advisers to the JLMs:
Çetinkaya Attorney Partnership
Structured Bond Deal of the Year
1st -Vakifbank
TRY1,330,000,000
October 2017
Currency Covered Bond due September 2023
13.76%
Bookrunners:
Credit Suisse
Legal Advisor to the Issuer:
Mayer Brown
Legal Advisor to the JLMs:
White & Case
GKC Partners
2nd -Halk Varlık Kiralama A.Ş / Halk GYO (Halk REIT)
TRY100,000,000
Dec 2017
13.25%
Sukuk Al-Wakala due in March 2028
Bookrunners:
Halk Yatırım Menkul Değerler A.Ş.
Legal Advisor to the Issuer:
Ayaz Law Firm
Legal Advisor to the JLMs:
Akol Ozok Namlı Attorney Partnership
3rd -Emlak Girisim A.S.
TRY100,000,000
March 2018
Gold yield + 2.80% Spread
Project Finance-backed Diminishing Sukuk al Musharaka due in March 2019
Arranger and Coordinator:
Aktifbank
Islamic Finance Deal of the Year
1st – Halk Varlik Kiralama Toprak Mahsulleri Ofisi
TRY100,000,000
July 2018
18.50%
Sukuk Al Wakalah Bil Istithmar due in October 2018
Bookrunners:
Halk Invest
Legal Advisor to the Issuer
Ayaz Law Firm
Legal Advisor to the JLMs:
Akol Ozok Namlı Attorney Partnership
2nd -Superonline İletişim Hizmetleri A.Ş. (Superonline) – Use Turkcell logo
TRY 125 Million
March 2018
13.67%
Local Wakalah Sukuk
Arranger:
Legal Advisors:
3rd-Albaraka Türk Katılım Bankası A.Ş.
US$205,000,000
February 2018
10.00%
RegS Private Placement Basel-3 Compliant Tier 1 Perpetual Sukuk
Bookrunners:
Bank ABC,
Emirates NBD
Noor Bank
Standard Chartered Bank
Qinvest
Legal Advisor to the Issuer
Norton Rose Fulbright
Paksoy
Legal Advisor to the JLMs:
Clifford Chance and Yegin Ciftci
Infrastructure Finance Deal of the Year
1st -Çanakkale Otoyol ve Köpüsü İnşaat Yatırım ve İşletme A.Ş. (ÇOKİYİ A.Ş.)
EUR 2,265,000,000
Amortising Term Loan due in March 2018
Sponsors:
Daelim
Limak
SK & EC
Yapi Merkezi
Finance Parties:
Akbank
Bank of China
Deutsche Bank
DZ Bank
EKF
K-EXIM
QNB Finansbank
Garanti Bank
ICIEC
ICBC
ING
Intesa Sanpaolo
Is Bankasi
KEB Hana Bank
Korea Development Bank
K-Sure
Kuwait Finance House
Kuveyt Turk Katilim Bankasi
Natixis
Samsung Life Insurance
Shinhan Bank
Siemens
Standard Chartered
Vakifbank
Yapi Kredi
2nd -ERG Otoyol Yatırım ve İşletme A.Ş. · Ankara-Niğde Motorway Project
EUR1,115,000,000
June 2018
Project Finance Facility due May 2031
Mandated Lead Arrangers:
Credit Suisse
Türkiye İş Bankası
Kuveyt Turk Participation Bank
Türkiye Vakıflar Bankası
Yapı ve Kredi Bankası A.Ş
Legal Advisor to the Borrower:
Çakmak Avukatlık Ortaklığı
White & Case LLP
Legal Advisor to the JLMs:
Clifford Chance and Yegin Ciftci
3rd -Izmir Metropolitan Municipality for Fahrettin Altay-Narlidere metro line -
EUR 80,000,000
June 2018
Loan due in June 2030
Lenders:
EBRD
Legal Advisor to the Lender:
Bezen & Partners
Transport Finance Deal of the Year:
1st ERG Otoyol Yatırım ve İşletme A.Ş. - Ankara-Niğde Motorway Project
EUR1,115,000,000
June 2018
Project Finance Facility due May 2031
Mandated Lead Arrangers:
Credit Suisse
Türkiye İş Bankası
Kuveyt Turk Participation Bank
Türkiye Vakıflar Bankası
Yapı ve Kredi Bankası A.Ş
Legal Advisor to the Borrower:
Çakmak Avukatlık Ortaklığı
White & Case LLP
Legal Advisor to the JLMs:
Clifford Chance and Yegin Ciftci
2nd -IKA Izmir Otoyol Yatırım ve Isletme A.S - type out logo
EUR288,400,000
March 2018
Syndicated Loan due in 2027
Mandated Lead Arrangers:
QNB Finansbank
Ziraatbank
Halkbank
Vakifbank
Legal Advisor to the Borrower:
Lexist Law Office
White & Case
Legal Advisor to the JLMs:
Ergun Law Office
Clifford Chance
3rd - Izmir Metropolitan Municipality for Fahrettin Altay-Narlidere metro
line -
EUR 80,000,000
June 2018
Loan due in June 2030
Lenders:
EBRD
Legal Advisor to the Lender:
Bezen & Partners
Real Estate Finance Deal of the Year
1st -Halk Varlık Kiralama A.Ş / Halk GYO (Halk REIT)
TRY100,000,000
Dec 2017
13.25%
Sukuk Al-Wakala due in March 2028
Bookrunners:
Halk Yatırım Menkul Değerler A.Ş.
Legal Advisor to the Issuer:
Ayaz Law Firm
Legal Advisor to the JLMs:
Akol Ozok Namlı Attorney Partnership
2nd -Rönesans Gayrimenkul Yatırım A.Ş.
US$300,000,000
April 2018
7.250%
Senior Unsecured 144a/Reg S Notes due April 2023
Joint Lead Managers:
ING Bank
UniCredit
BNP Paribas
HSBC
JP Morgan
Joint Bookrunners:
BNP Paribas
HSBC
JPMorgan
Legal Advisors to the Issuer:
Gedik & Eraksoy
Allen & Overy
Legal Advisors to the JLMs:
Akol Law-
Latham & Watkins
3rd- Ersoy Otelcilik İnş. Ve Turz. İşl. A.Ş. – TYPE LOGO
EUR115,000,000
March 2018
Refinancing of Hotels Investments Loans due in June 2026
Mandated Lead Arranger:
QNB Finansbank
IPO/Equity Capital Markets Deal of the Year
1st-Şok Markletler A.Ş
TRY 2,294,250,000 (US$530m)
May 2018
Initial Public Offering (Sale of 218,500,000 new shares)
Global Coordinators:
ÜNLÜ & Co
Bank of America Merrill Lynch
Credit Suisse
JP Morgan
Global Bookrunners:
Citigroup
Unicredit Corporate and Investment Banking
Domestic Coordinator & Bookrunner:
Garanti Securities
Legal Advisors to Issuer:
Herbert Smith Freehills LLP
Legal Advisor to Bookrunners:
White & Case
GKC Partners
2nd-MLP Saglik Hizmetleri A.S.
TRY 1,384,000,000 (USD 366m)
Use of Proceeds: “The Company and the Selling Shareholders expect to receive gross proceeds of TL 1,384 million from the Offering.” IOC pg.4
February 2018
Initial Public Offering (Sale of 72,833,333 shares)
Joint Global Coordinators and Bookrunners:
HSBC
Goldman Sachs
JPMorgan
International Bookrunner:
Bank of America Merrill Lynch
Domestic Coordinator and Bookrunner:
AK Investment
Legal Advisor to the Issuer
Baker McKenzie
Esin Attorney
Legal Advisor to the JLMs:
White & Case
GKC Partners
3rd - Enerjisa Enerji A.Ş. (“Enerjisa”)
TRY1,500,000,000 (US$393,000,000)
February 2018
Initial Public Offering (Sale of 23,600,000,000 shares)
Senior Global Coordinator and Bookrunner:
Citi
Global Coordinator and Bookrunner:
HSBC
Senior Global Bookrunner:
Bank of America Merrill Lynch
Global Bookrunner:
Deutsche Bank
Domestic Coordinator and Bookrunner:
AK Investment
Legal Advisor to the Issuer:
White & Case
GKC Partners
Legal Advisor to the JLMs:
Herbert Smith
Paksoy
ECA/Export Finance Deal of the Year:
1st - Akfen Yenilenebilir Enerji A.Ş
UD$260,000,000
July 2018
Syndicated Loan (ECA-backed + commercial loan) due in 2033
ECA:
EKF
LG Issuers:
Garanti
İşbank
Vakıfbank,
Yapikedit
Commercial Lenders:
EBRD
ECA Lender:
KfW IPE
Legal Advisor to Commercial Lenders and LG Issuers:
Clifford Chance and Yegin Ciftci
Legal Advisor to the Sponsors
Latham & Watkins
ASC
Legal Advisor to the ECA Lender:
Freshfields
Bezen & Partners
2nd -Turk EXIMBANK
US$140,000,000 and EUR348,000,000
July 2018
Syndicated, multicurrency 95% MIGA Covered Term Loan Facilities due in July 2028
ECA Lender:
MIGA
Joint Lead Manager, Documentation Bank and ECA Coordinator/Agent:
Standard Chartered Bank
Joint Lead Manager:
BNP Paribas
Legal Advisor to the Borrower:
Clifford Chance and Yegin Ciftci
3rd -Demirer Enerji Üretim San. ve Tic. A.Ş.
US$7,000,000 Commercial Loan, US$27,000,000 MidSEFF Loan and EUR48,000,000 ECA-Covered Loan
June 2018
Multi-tranche part ECA-backed project finance facility due in:
July 2027 (MidSEFF Loan)
October 2019 (Commercial Loan)
2033 (ECA-covered Loan)
Lenders:
Euler Hermes Aktiengeselschaft
Bayern LB
Akbank T.A.Ş.
Legal Advisers to the JLMs:
Çetinkaya Attorney Partnership
Natural Resources Finance Deal of the Year:
1st -Tümad Madencilik
US$210,000,000
December 2017
5.5 year Development Loan Facility with a 2-year grace period, full recourse to the Sponsor, due June 2023
Sponsor:
Nurol
Bookrunners
Akbank
Ziraat Bankasi
EBRD
Legal Advisor to the Sponsor
Hergüner Bilge Özeke
Legal Advisor to the JLMs:
White & Case
GKC Partners
2nd - Akfen Yenilenebilir Enerji A.Ş
UD$260,000,000
July 2018
Syndicated Loan (ECA-backed + commercial loan) due in 2033
ECA:
EKF
LG Issuers:
Garanti
İşbank
Vakıfbank,
Yapikedit
Commercial Lenders:
EBRD
ECA Lender:
KfW –IPEX
Legal Advisor to Commercial Lenders and LG Issuers:
Clifford Chance and Yegin Ciftci
Legal Advisor to the Sponsors
Latham & Watkins
ASC
Legal Advisor to the ECA Lender:
Bezen & Partners
Freshfields
3rd-Entek Elektrik
Menzelet Kilavuzlu
US$106,000,000 and TRY646,250,000 Cash Facilities and
TRY1,057,485,000 Non-cash Facility
March 2018
Mandated Lead Arrangers:
Türkiye Garanti Bankasi A.Ş.
Yapi ve Kredi Bankasi A.Ş.
Türkiye Iş Bankasi A.Ş.
EBRD
ICBC Turkey
Unicredit S.p.A.
Akbank T.A.Ş.
Legal Advisors to the Borrower:
Dentons
Balcıoğlu Selçuk Akman Keki Avukatlık Ortaklığı
Legal Advisors to the JLMs:
Clifford Chance and Yegin Ciftci
Structured Loan Deal of the Year:
1st-Turkcell, Superonline, Turkcell Finansman, Lifecell
USD 690million,
March 2018
Restructuring of Turkcell’s 10-year China Development Bank Loan Facility into a Multi-Borrower (Turkcell, Superonline, Turkcell Finansman, Lifecell Ukraine), Multi-Currency (EUR, USD, RMB) and Multi-Jurisdiction (Turkey, Ukraine, China) Structured Facility
E+2.20% (EUR), L+2.22% (USD), 5.51% (RMB)
Lender:
Legal Advisors:
2nd-Karadeniz Energy Group
US$250,000,000
April 2018
Syndicated Medium-Term Loan Facility due in July 2022
Bookrunners:
Bank of America Merrill Lynch
Standard Chartered Bank
Bank ABC
ICBC Turkey
Credit Suisse
Siemens Bank
KEB Hana
Legal Advisor to the Borrower:
Clifford Chance
Legal Advisor to the JLMs:
Dentons
3rd- Turkuaz Petrol Ürünleri A.Ş.
EUR77,000,000 and US$131,000,000
February 2018
EUR77m Acquisition Loan and US$131m Working Capital Fully Amortising Facilities due in April 2029
Lenders:
EBRD
TSKB
Facility Agent and Security Agent
T. Is Bankasi A.Ş.
Legal Advisors to the Borrowers:
The AK Law Firm
Legal Advisors to the Lenders:
Yegin Ciftci and Clifford Chance
M&A/Acquisition Finance Deal of the Year
1st -Entek Elektrik
Menzelet Kilavuzlu
US$106,000,000 and TRY646,250,000 Cash Facilities and
TRY1,057,485,000 Non-cash Facility
March 2018
Mandated Lead Arrangers:
Türkiye Garanti Bankasi A.Ş.
Yapi ve Kredi Bankasi A.Ş.
Türkiye Iş Bankasi A.Ş.
EBRD
ICBC Turkey
Unicredit S.p.A.
Akbank T.A.Ş.
Legal Advisors to the Borrower:
Dentons
Balcıoğlu Selçuk Akman Keki Avukatlık Ortaklığı
Legal Advisors to the JLMs:
Clifford Chance and Yegin Çiftçi
2nd -Turkuaz Petrol Ürünleri A.Ş.
EUR77,000,000 and US$131,000,000
February 2018
EUR77m Acquisition Loan and US$131m Working Capital Fully Amortising Facilities due in April 2029
Lenders:
EBRD
TSKB
Facility Agent and Security Agent
T. Is Bankasi A.Ş.
Legal Advisors to the Borrowers:
The AK Law Firm
Legal Advisors to the Lenders:
Yegin Ciftci and Clifford Chance
3rd – The Acquisition of Avis Greece by Otokoç
Otokoç Otomotiv Tic. Ve San. A.Ş.
35,5 mn€ (40 mn$)12.03.2018
Acquisition Finance Loan due in 2023
Project Finance Deal of the Year
1st -Çanakkale Otoyol ve Köpüsü İnşaat Yatırım ve İşletme A.Ş. (ÇOKİYİ A.Ş.)
EUR 2,265,000,000
Amortising Term Loan due in March 2018
Sponsors:
Daelim
Limak
SK & EC
Yapi Merkezi
Finance Parties:
Akbank
Bank of China
Deutsche Bank
DZ Bank
EKF
K-EXIM
QNB Finansbank
Garanti Bank
ICIEC
ICBC
ING
Intesa Sanpaolo
Is Bankasi
KEB Hana Bank
Korea Development Bank
K-Sure
Kuwait Finance House
Kuveyt Turk Katilim Bankasi
Natixis
Samsung Life Insurance
Shinhan Bank
Siemens
Standard Chartered
Vakifbank
Yapi Kredi
2nd -Menzelet Kılavuzlu Elektrik Üretim
TRY1,530,000,000 and US$399,9000,000
March 2018
Fix and floating price TL loan due in March 2031
Bookrunners:
EBRD
Unicredit
ICBC
Isbank
Akbank
Garanti
Yapı Kredi
Legal Advisor to the bookrunner:
Clifford Chance and Yegin Ciftci
3rd-Maspo Enerji Sanayi ve Ticaret A.Ş.
US$183,000,000
July 2018
Structured Finance Facility (Including Conventional and Murabaha Facilities and Financial Leasing) due in July 2031
Bookrunners and Creditors:
T.C. Ziraat Bankası A.Ş.
T.C. Halk Bankası A.Ş.
Türkiye Vakıflar Bankası T.A.O.
Kuveyt Türk Katılım Bankası A.Ş.
Legal Advisor to the Borrowers
GSI Göksu Safi Işık Attorney Partnership
Legal Advisor to the JLMs:
Selvi Ertekin Law Office