IFLR1000

Gebze-Orhangazi-İzmir motorway project $4.9 loan facility

10/7/2015
Project finance
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$ 4.9 billion

Completed

10/7/2015

Overview:

  • The Gebze-Orhangazi-İzmir Motorway project is one of the largest infrastructure projects in Turkish history, with a total project cost of $6.3 billion.
  • Otoyol Yatırım ve İşletme, the project company, was incorporated by sponsors Nurol İnşaat ve Ticaret, Özaltın İnşaat Ticaret ve Sanayi, Makyol İnşaat Sanayi Turizm ve Ticaret, Astaldi Concessions, Göçay İnşaat Taahhüt ve Ticaret and Yüksel İnşaat.
  • Otoyol secured a $4.9 billion loan facility to partially finance the project from a consortium of banks including Akbank, Finansbank, Garanti Bankası, Türkiye Halk Bankası, Türkiye İş Bankası, Türkiye Vakıflar Bankası, Yapı ve Kredi Bankası and TC Ziraat Bankası.

Jon Moore - Journalist

Jurisdiction:

Türkiye

Deal type:

Project finance

Practice area:

Project finance

Governing laws:

England and Wales
Turkey

Industry sector:

Transport

Firms:
Clifford Chance

Party: Akbank (Lender)

Party: Turkiye Garanti Bankasi (Lender)

Party: Türkiye İş Bankası (Lender)

Party: Yapı ve Kredi Bankası (Lender)

Party: Deutsche Bank (Lender)

Party: Finansbank (Lender)

Party: Türkiye Vakıflar Bankası (Lender)

Party: TC Ziraat Bankası (Lender)

Hergüner Bilgen Üçer Attorney Partnership

Party: Astaldi Concessions (Sponsor)

Party: Otoyol Yatırım ve İşletme (Project company)

Party: Nurol İnşaat ve Ticaret (Sponsor)

Party: Özaltın İnşaat Ticaret ve Sanayi (Sponsor)

Party: Makyol İnşaat Sanayi Turizm ve Ticaret (Sponsor)

Party: Göçay İnşaat Taahhüt ve Ticaret (Sponsor)

Party: Yüksel İnşaat (Sponsor)

Lawyer: Aslı Budak

Verdi Law Office

Party: Akbank (Lender)

Party: Turkiye Garanti Bankasi (Lender)

Party: Türkiye İş Bankası (Lender)

Party: Yapı ve Kredi Bankası (Lender)

Party: Deutsche Bank (Lender)

Party: Finansbank (Lender)

Party: Türkiye Vakıflar Bankası (Lender)

Party: TC Ziraat Bankası (Lender)

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