Clifford Chance advised lenders on the financing of the Çeşmeli-Kızkalesi Motorway Project
Clifford Chance has advised the lenders — T.C. Ziraat Bankası A.Ş. (as Facility Agent), Akbank T.A.Ş., Denizbank A.Ş., T. Vakıflar Bankası T.A.O. (as Security Agent), T. İş Bankası A.Ş., Yapı ve Kredi Bankası A.Ş. (including Yapı Kredi Azerbaijan CJSC), Barclays Bank PLC, and DZ BANK AG Deutsche Zentral-Genossenschaftsbank, Frankfurt am Main — on the ICIEC-covered financing provided to Mersin Otoyolu Yatırım ve İşletme A.Ş. for the Çeşmeli-Kızkalesi section of the Çeşmeli-Erdemli-Silifke-Taşucu Motorway Project.
The project is being developed under the Build-Operate-Transfer (BOT) model. This strategically important 52-kilometre motorway will offer a high-standard, uninterrupted link between Mersin’s principal tourism destinations and the national road network. Upon completion, it is expected to:
- Deliver significant savings in time and fuel,
- Alleviate congestion,
- Reduce carbon emissions, and
- Support regional economic growth.
The Clifford Chance team advising on this multi-jurisdictional financing was led by Sait Eryılmaz (Partner, Istanbul), Nikolai Eatwell (Partner, Paris) and Qudeer Latif (Partner, Dubai),
Supported by:Istanbul: Gökçe Uzun (Counsel), Başar Kırka (Counsel), Ali Can Altıparmak (Senior Associate), Berke Avarkan (Associate), Aykan Karpuzcu (Associate), Melisa Mengü (Associate), Büşra Altuntaş (Associate) and Alper Eski (Trainee Lawyer) Dubai: Marius Fritz (Senior Associate) and Salma Mowlid (Associate) advising on ICIEC aspects London: Sandy Hall (Partner) and Jonathan Forrest (Senior Associate) advising on EPC matters Munich: David Neu (Partner) and Christopher Banks (Senior Associate) advising on hedging aspects
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