White & Case advises Gürmat Elektrik on debut US$380 million notes issuance

Global law firm White & Case LLP and GKC Partners have advised Gürmat Elektrik Üretim A.Ş. (Gürmat Elektrik) on its debut international bond issuance of US$380 million senior secured amortizing notes due 2035.

"This landmark debut transaction in the international capital markets demonstrates the increasing attractiveness of capital markets solutions for infrastructure financings in Türkiye," said White & Case partner Stuart Matty, who led the Firm's deal team. "Türkiye continues to be a very important and busy market for White & Case, and it plays to our Firm's global strengths that our integrated cross-border and cross-practice team supports leading Turkish companies accessing the international capital markets, with this transaction in particular further affirming our long-standing relationship with the GURIS group."

J.P. Morgan Securities plc acted as sole bookrunner on the offering.

Gürmat Elektrik is a leading company in Türkiye's geothermal energy sector, dedicated to the development and operation of geothermal power plants, and is part of MOGAN Enerji, one of Türkiye's largest renewable energy companies.

The White & Case team that advised on the transaction included partners Stuart Matty and Melissa Butler (both London), partner Güniz Gökçe (Istanbul), counsel Derin Altan (Istanbul) and associates Hashim Eltumi, Jeffrey Cheung (both London), Baran Abur, Muhammed Aşula, Deniz Alkan, and Caner Boztepe (all Istanbul). White & Case has a professional association with Istanbul-based GKC Partners.

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