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Allen & Overy and Gedik & Eraksoy Advise on EUR 1.2 Billion Electric Railway Financing

Allen & Overy and Gedik & Eraksoy Advise on EUR 1.2 Billion Electric Railway Financing

Turkiye
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Allen & Overy and its Turkish affiliate Gedik & Eraksoy have advised MUFG Securities, Mitsubishi UFJ Investor Services & Banking, and UK Export Finance on the EUR 1.247 billion financing for the Turkish Ministry of Treasury and Finance regarding a 140-kilometer segment of high-speed, low-carbon electric railway between Yerkoy and Kayseri, in the Ankara region of Turkiye.

MUFG Securities EMEA was the sole mandated lead arranger, coordinator, structure, and agent bank.

According to Allen & Overy, "the financing package consists of loans guaranteed by UK Export Finance, reinsurance cover provided by ECAs in Italy, Poland, and Austria (SACE, KUKE, and OeKB, respectively), as well as a separate commercial facility supported in part by the Islamic Corporation for the Insurance of Investment and Export Credit. The financing was structured so as to allow institutional investors to participate alongside commercial banks."

The Gedik & Eraksoy team included Partner Umut Gurgey and Lawyers Burak Ozsoy and Ceren Gurel, with additional Allen & Overy lawyers in London and Luxembourg.

The firms did not respond to our inquiry on the matter.