Türkiye

Lender consortium 

Representation of the lender consortium, including Ziraat Bankası, Akbank, DenizBank, Garanti BBVA, QNB and ICBC Turkey, in connection with the provision of US$1.72 billion in long-term financing for a nationwide vehicle inspection investment program undertaken by Turka Araç Muayene İstasyonları Yapım ve İşletim A.Ş. 

Senior financiers 

Representation of senior financiers, including the Deutsche Bank, Asian Infrastructure Investment Bank, Black Sea Trade and Development Bank, Islamic Development Bank, Islamic Corporation for the Development of the Private Sector, ICBC, Silk Road Fund, Bank of Bahrain and Kuwait, Kuveyt Türk, Akbank, Garanti BBVA, QNB, VakıfBank and Ziraat Bank, in connection with the €1.7 billion senior secured financing for the Antalya-Alanya motorway project on the basis of the build-operate-transfer (BOT) model, supported by ICIEC under a non-honoring of sovereign financial obligations (NHSFO) policy cover.

Zynga, Inc.

Representation of Zynga, Inc., a global leader in interactive entertainment and mobile gaming, in its acquisition of the shares representing the entire share capital of Peak Games, a Turkish mobile game developer, for US$1.8 billion, Türkiye’s first “unicorn.”

Zorlu Enerji Elektrik Üretim A.Ş.

Representation of Zorlu Enerji Elektrik Üretim A.Ş., Türkiye’s leading geothermal power generator, in the Rule 144A/Regulation S US$1 billion debut sustainability-linked Eurobond issuance, followed by a US$100 million tap issuance of senior guaranteed sustainability-linked notes due 2030.

Lender consortium 

Representation of the lender consortium, consisting of international development banks IFC, AIIB, EBRD and DEG, along with other international banks, Deutsche Bank, Alpha Bank, National Bank of Greece and Bank of China; and Turkish banks Akbank, VakıfBank, Ziraat Bank, TEB, Garanti BBVA and QNB, in connection with the financing of the concession for Antalya Airport (AYT) awarded to the Fraport AG Frankfurt Airport Services Worldwide and TAV Havalimanları Holding A.Ş. by the Turkish State Airports Authority by means of a re-financing and a long-term financing/project financing to be extended to Fraport TAV Antalya Yatırım Yapım ve İşletme A.Ş. to secure the long-term financial viability of the concession for AYT.

Senior financiers 

Representation of the consortium of senior financiers , including EBRD, AIIB, Deutsche Bank AG, Standard Chartered Bank, Natixis, IsDB, ICD and Vakıflar Bank, in connection with approx. € 1,1 billion financing of the Nakkaş-Başakşehir Motorway, the final section of the Northern Marmara Motorway, being developed by Nakkaş Otoyol Yatırım ve İşletme A.Ş. and owned by Rönesans Group, and a group of Korean sponsors, including Samsung C&T and Korean public organizations, including the Korean Expressway Corporation, KIND and PIS Fund. The financing to be extended by the commercial banks are backed by the ECAs including Atradius, the ICIEC and SERV.

Joint global coordinators, joint bookrunners 

Representation of the joint global coordinators, joint bookrunners and the representative in the standalone debut issuance of US$650 million lease certificates due 2031 by Emlak Konut Varlık Kiralama A.Ş., with Emlak Konut Gayrimenkul Yatırım Ortaklığı A.Ş. as the obligor, whose ultimate controlling party is TOKİ (the Housing Development Administration of Türkiye), a state institution under Türkiye’s Ministry of Environment, Urbanisation and Climate Change.

BBVA

Representation of BBVA in its bid for the voluntary tender offer to buy out the shares representing the remaining 50.15 percent of the share capital of Garanti Bank for up to €2.25 billion. 

Enerjisa Üretim Santralleri A.Ş.

Representation of Enerjisa Üretim Santralleri A.Ş. in connection with an up to US$1.012 billion financing made available by a syndicate of lenders, including Akbank, DEG, DFC, HSBC, J.P. Morgan, KfW IPEX-Bank and Proparco, for the financing of the development and construction of 750 MW wind energy power plants in the Aegean region of Türkiye under the YEKA-2 WPP scheme. Part of the loans are partially backed by Euler Hermes with an export credit cover.

Hepsiburada.com

Representation of Hepsiburada.com, a Turkish e-commerce giant, in its US$780 million IPO (including green-shoe) on Nasdaq, the first IPO by a Turkish company on Nasdaq, the largest Turkish tech IPO in history and the largest Turkish IPO in more than a decade.