ING Bank €200 million covered loan to Türk Eximbank

1/10/2015

Financing

Value:

€ 200 million

Dollar value:

$ 208.238 million

Status:

Completed

Date:

1/10/2015

Overview:

Türk Eximbank - the export-import bank of Turkey - secured a €200 million covered loan from ING Bank.
The deal used English law for the facility agreement and Turkish law for the transfer of receivables.
It is one of the few examples of a covered loan in the Turkish market.

Jurisdiction:

Türkiye

Deal type:

Financing

Practice area:

Banking

Governing laws:

England and Wales
Turkey

Industry sector:

Banking

Firms:

Allen & Overy

Party: ING Bank (Lender)

Gedik & Eraksoy

Party: ING Bank (Lender)

Paksoy

Party: Türk Eximbank (Borrower)

Lawyer: Sera Somay

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