22nd November 2022
Shangri-La Bosphorus, Istanbul
2022
NOMINATIONS ARE NOW CLOSED
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NOMINATIONS RECEIVED IN 2022
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HIGH-PROFILE INDUSTRY FIGURES

BONDS, LOANS & SUKUK TURKEY AWARDS 2022

22ND NOVEMBER | THE SHANGRI-LA BOSPHORUS, ISTANBUL

"Recognising the most innovative & ground-breaking deals from Turkey's credit markets"

Join the industry's most high-profile figures in celebrating!

Since 2015 the Bonds, Loans & Sukuk Turkey Awards has been recognising the most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers.

The exhaustive selection process involves close examination of deal size, tenor, structure, and distribution; analysis and background of the borrower and their accessibility to financing; with extra credit for those deals demonstrating high quality execution, accessing new pools of liquidity, innovative structuring, and opening-up new markets.

Bringing together the industry’s most high-profile figures, the Bonds, Loans & Sukuk Turkey Awards ceremony is an opportunity to raise the profile of the financial markets with the international investment community, and to inspire future issuance by Turkish companies.

ENQUIRIES: email Awards@GFCMediaGroup.com

CONGRATULATIONS TO THE 2022 WINNERS & RUNNERS-UP:


Corporate Bond Deal of the Year

WINNER:

Limak İskenderun Uluslararasi Liman İşletmeciliği A.Ş.

  • USD 370m Senior Secured Sustainability-Linked Project Bond
  • Issued; May 2021; Matures: July 2036
  • Bookrunners: BofA Securities, UBS
  • Legal Advisers to the Issuer: Milbank, Paksoy
  • Legal Advisers to the JLMs: White & Case, GKC Partners, Hogan Lovells

RUNNER-UP:

Aydem Yenilenebilir Enerji A.Ş.

  • USD 750m 144a/RegS Senior Unsecured Green Bond at 7.75%
  • Issued: August 2021; Matures February 2027
  • Bookrunners: Citi, Goldman Sachs, JPMorgan
  • Legal Advisers to the Issuer: Linkaters, Unsal Attorney Partnership
  • Legal Advisers to the JLMs: White & Case, GKC Partners

Financial Institutions Deal of the Year

WINNER:

T.C. Ziraat Bankasi A.S.

  • USD 352.5m and EUR 814m Sustainability-Linked Term Loan Facility
  • Signed: April 2022; Matures: April 2023
  • Global Coordinators: ADCB, Emirates NBD, Commercialbank
  • ESG Coordinators: Emirates NBD, Standard Chartered, SMBC
  • Bookrunners and MLAs: ADCB, Citi, Commercialbank, Deutsche Bank, Emirates NBD, HSBC, ICBC Standard Bank, JPMorgan, Mashreqbank, Mizuho, Societe Generale, Standard Chartered, SMBC
  • Legal Advisers to the Borrower: Aksu Çalışkan Beygo Attorney Partnership
  • Legal Advisers to the MLAs: Hogan Lovells, Özok Hukuk Bürosu

RUNNER-UP:

AK Bank T.A.S.

  • USD 500m 144a/RegS 10NC5 Basel 3-compliant Tier 2 Sustainability-Linked Bonds at 6.8%
  • Issued: June 2021; Matures: June 2031
  • Bookrunners: BofA Securities, Citi, HSBC, SMBC Nikko, Societe Generale, Standard Chartered Bank
  • Legal Advisers to the Issuer: Baker McKenzie LLP, Esin Avukatlık Ortaklığı
  • Legal Advisers to the JLMs: Allen & Overy LLP, Gedik Eraksoy Avukatlık Ortaklığı

Islamic Capital Markets Deal of the Year:

WINNER:

Kuveyt Türk Katilim Bankasi

  • USD 350m RegS ESG-Compliant Tier 2 Regulatory Capital Sukuk at 6.125%
  • Issued: September 2021; Matures: December 2031
  • Global Coordinators: KFH Capital
  • JLMs/Bookrunners: Bank ABC, Dubai Islamic Bank, Emirates NBD, Citi, HSBC
  • Legal Advisers to the Obligor: Akin Gump Strauss Hauer & Feld, Mutlu Avukatlık Ortaklığı
  • Legal Advisers to Issuer: Maples Group
  • Legal Advisers to JLMs: Clifford Chance, Çiftçi Attorney Partnership

RUNNER-UP:

The Republic of Turkey

  • USD 3bn Sukuk Al-Ijara at 7.25%
  • Issued: February 2022; Matures February 2027
  • Bookrunners: Citi, Dubai Islamic Bank, HSBC, KFH Capital Investment Company
  • Legal Adviser to the Obligor: Arnold & Porter, Paksoy
  • Legal Advisers to JLMs: Clifford Chance, Çiftçi Attorney

Islamic Finance Deal of the Year:

WINNER:

TIBAH AIRPORTS DEVELOPMENT COMPANY CJSC

  • SAR 2.526bn Senior Secured Loan
  • Issued: December 2021; Matures: June 2036
  • Lenders: Arab National Bank, Bank Albilad
  • Legal Adviser to the Borrower: Clifford Chance, Norton Rose Fulbright
  • Legal Adviser to the Lenders: Herbert Smith Freehills LLP

RUNNER-UP:

Development and Investment Bank of Türkiye

  • TRY 50m Social Sukuk
  • Issued: October 2021; Matures: January 2022
  • Exclusive Financial Adviser: Development and Investment Bank of Türkiye
  • Bookrunners: Ziraat Investment Securities
  • Legal Adviser to the Issuer: Akol Law

Syndicated Loan Deal of the Year:

WINNER:

SOCAR Turkey Enerji A.Ş.

  • USD 825m and EUR 401m Syndicated Term Loan Facility
  • Issued: August 2021; Matures: August 2026
  • Global Coordinators: Citi, JPMorgan
  • Bookrunners: Citi, JPMorgan, Akbank, Bank of China, MUFG
  • Legal Adviser to the Borrower: Unsal Attorney Partnership, Omni Law Firm, Vinson & Elkins
  • Legal Adviser to the MLAs: Linklaters, Baker McKenzie / Esin Attorney Partnership

RUNNER-UP:

Ford Otomotiv Sanayi A.S.

  • EUR 650m Long-term Syndicated Loan
  • Issued: July 2021; Matures: July 2026 and July 2028
  • Lead Arranger: EBRD
  • Lenders:
  • Legal Advisers to the Lenders: Dentons, Baseak

ESG Bond Deal of the Year

WINNER:

Coca-Cola İçecek A.Ş. (CCI)

  • USD 500m Senior Unsecured Sustainability-Linked Bond at 4.5%
  • Issued: January 2022; Matures: January 2029
  • Bookrunners: BofA Securities, HSBC, JPMorgan, MUFG
  • Legal Advisers to the Issuer: Linklaters, Paksoy
  • Legal Advisers to the JLMs: Allen & Overy, Gedik & Eraksoy

RUNNER-UP:

Arçelik A.Ş.

  • EUR 350m Reg S Senior Unsecured Green Bond at 3.0%
  • Issued: May 2021; Matures: May 2026
  • Sole Green Structuring Advisor: MUFG
  • Bookrunners: BofA Securities, JPMorgan, MUFG
  • Legal Advisers to the Issuer: Clifford Chance, Cetinkaya Avukatlik Ortakligi
  • Legal Advisers to the JLMs: Allen & Overy, Gedik & Eraksoy

Infrastructure Finance Deal of the Year

WINNER:

IGA Havalimani Isletmesi A.S.
Cengiz, Limak, Kalyon, Mapa

  • EUR 5.852bn Senior Loan Facility for the Refinancing of PPP-modelled Airport Project Financing
  • Issued: May 2021; Matures: May 2033
  • Mandated Lead Arranger: Ziraat Bank
  • Bookrunners: Garanti BBVA, QNB Finansbank, Denizbank, Ziraat Bank, Halkbank, Vakıfbank
  • Legal Advisers to the Borrower: Göksu Safi Işık Law Firm
  • Legal Advisers to the Lenders: GKC Partners

RUNNER-UP:

Limak İskenderun Uluslararasi Liman İşletmeciliği A.Ş.

  • USD 370m Senior Secured Sustainability-Linked Project Bond
  • Issued; May 2021; Matures: July 2036
  • Bookrunners: BofA Securities, UBS
  • Legal Advisers to the Issuer: Milbank, Paksoy
  • Legal Advisers to the JLMs: White & Case, GKC Partners, Hogan Lovells

Power Finance Deal of the Year

WINNER:

Enerjisa Uretim

  • USD 101.74m Triple-Tranche Structured Bilateral Facility
  • Issued: August 2022; Matures: April 2037
  • Mandated Lead Arranger and ECA Structuring Bank: HSBC
  • Legal Adviser to the Borrower: White & Case
  • Legal Adviser to the Lender: Paksoy

RUNNER-UP:

Kremna Enerji Üretim ve Ticaret A.Ş. (GAMA Enerji A.Ş.)

  • USD 128.2m Senior Secured Amortising Term Loan for the Financial Restructuring of Karacaören I-II Hydroelectric Power Plant
  • Issued: February 2022; Matures: August 2036
  • Lenders: IFC, EBRD, ICBC
  • Legal Advisers to the Borrower: Morgan Lewis, ASC Hukuk
  • Legal Advisers to the Lenders: White & Case, GKC Partners

Structured Finance Deal of the Year

WINNER:

Karadeniz Powership Osman Khan Company Limited (Karpower International B.V)

  • USD 250m Senior Secured Amortising Loan to Refinance Existing Ghana PPA Loan and Provide Additional Liquidity for Investments in the Powership business of Karpower International
  • Issued: October 2021; Matures: September 2026
  • Mandated Lead Arranger: Deutsche Bank
  • Legal Advisers to the Borrower: Dentons, Mamo, AB & David Africa
  • Legal Advisers to the Lenders: Watson Farley & Williams LLP, Ganado Advocates, Cains Advocates Limited, NautaDutilh N.V., ENSafrica

RUNNER-UP:

Fraport TAV Antalya Yat. Yap. Ve İşl. A.Ş.

  • EUR 1.225bn Senior Secured Bridge Facility Loan
  • Issued: March 2022; Matures: March 2024
  • Mandated Lead Arrangers: Deutsche Bank, TEB, Ziraat Bank, AKBank, Vakifbank, Alpha Bank
  • Lenders: Deutsche Bank, TEB, Ziraat Bank, AKBank, Vakifbank, Alpha Bank, QNB Finansbank, Piraeus Bank, Kommunalkredit
  • Legal Advisers to the Borrower: Clifford Chance, Yegin Ciftci Attorney Partnership
  • Legal Advisers to the Lenders: White & Case, GKC Partners

Transport Finance Deal of the Year

WINNER:

SUNEXPRESS AIRLINES (GÜNEŞ EKSPRES HAVACILIK A.Ş.)

  • EUR 184m UKEF-Guaranteed Facility combined with a French Optimized Lease Structure for the purchase of 5 Boeing 737 Max8 Aircraft
  • Issued: December 2021; Matures: December 2031
  • Mandated Lead Arrangers: Natixis, JPMorgan, Banque Populaire et Caisses d’Epargne (BPCE)
  • Legal Advisers to the Borrower: Clyde & Co
  • Legal Advisers to the MLAs: Norton Rose Fulbright

RUNNER-UP:

Pegasus Hava Tasimaciligi A.S.

  • USD 375m RegS/144a 5NC3 Bonds at 9.25%
  • Issued: April 2021; Matures: April 2026
  • Global Coordinators and Bookrunners: BofA Securities, Goldman Sachs
  • Legal Adviser to the Issuer: White & Case
  • Legal Adviser to the JLMs: Baker McKenzie

Natural Resources Finance Deal of the Year

WINNER:

SOCAR Turkey Enerji A.Ş.

  • USD 825m and EUR 401m Syndicated Term Loan Facility
  • Issued: August 2021; Matures: August 2026
  • Global Coordinators: Citi, JPMorgan
  • Bookrunners: Citi, JPMorgan, Akbank, Bank of China, MUFG
  • Legal Adviser to the Borrower: Unsal Attorney Partnership, Omni Law Firm, Vinson & Elkins
  • Legal Adviser to the MLAs: Linklaters, Baker McKenzie / Esin Attorney Partnership

RUNNER-UP:

Gemlik Gubre Sanayii A.S. (Yildirim Holding A.Ş.)

  • EUR 284.2m Multi Tranche Facility consisting of Dual ECA Tranche and Commercial Tranche
  • Matures: December 2030
  • ECAs: SACE, UKEF
  • ECA Coordinating and Documentation Bank ING
  • Commercial Tranche Coordinator: Yapı Kredi
  • Participant Banks: ING, Intesa Sanpaolo IMI, Yapi Kredi, TSKB, Isbank
  • Legal Advisers to the Borrower: Baker McKenzie, Esin Attorney Partnership
  • Legal Advisers to the MLAs: Morgan Lewis, Erdem & Erdem

IPO/Equity Capital Markets Deal of the Year

WINNER:

Aydem Yenilenebilir Enerji A.Ş.

  • USD160m raised from the IPO (sale) of 18.44% of Aydem Enerji Yatırımları
  • Listing Date: April 2021
  • Bookrunners: Garanti Bank, IS Bank, Kalkinma, Yapi Kredi, Halk Yatirim, Vakif Yatirim, Ziraat Yatirim
  • Legal Adviser to the Issuer and Shareholder: UNSAL Attorney Partnership
  • Legal Adviser to the Bookrunners: GKC Partners

RUNNER-UP:

Hitit Bilgisayar Hizmetleri A.S.

  • USD 31m raised from the IPO (sale) of 27.6% Hitit sahres
  • Listing Date: March 2022
  • Lead Arranger and Bookrunner: Unlu
  • Legal Adviser to the Issuer: CMS

M&A/Acquisition Finance Deal of the Year

WINNER:

TAV Airports Holding (Almaty International Airport JSC)

  • USD 450m Senior Secured Loan for Acquisition and CAPEX (capacity increase and new international terminal)
  • Issued: September 2021; Matures: December 2036
  • Lead Arrangers and Coordinators: EBRD, IFC
  • Lenders: EBRD, IFC, DEG, Eurasian Development Bank
  • Legal Advisers to the Borrower: Dentons
  • Legal Advisers to the Lenders: Norton Rose Fulbright, White & Case

RUNNER-UP:

ENTEK ELEKTRİK ÜRETİMİ A.Ş.

  • USD 81m Acquisition of Süloğlu Wind Power Plant including USD 21m Equity, USD 38m Acquisition Loan Facility and USD 22m Refinancing Facility
  • Settled: August 2021; Matures: August 2027
  • Bookrunners: AKbank, Garanti BBVA, ING

ECA, DFI, IFI Deal of the Year

WINNER:

Ministry of Treasury and Finance, Turkey

  • EUR 2.4bn Green Loan including EUR 2.131bn UKEF-Supported Facility and EUR 324.39m Commercial Facility for the Construction and Operation of the Ankara-Izmir High Speed Railway
  • Signed: August and December 2021; Matures: August 2031 and 2049
  • Coordinators and Bookrunners: Credit Suisse AG, Standard Chartered Bank
  • MLAs: Banco Santander, S.A., BNP Paribas SA, Commerzbank Aktiengesellschaft, Deutsche Bank AG, HSBC Bank Middle East Limited, ING Bank N.V., JPMorgan Chase Bank, National Association, London Branch, Landesbank Baden-Wuerttemberg , Lloyds Bank Plc, Société Générale, Unicredit Bank AG
  • Legal Adviser to the Bookrunner: Clifford Chance, Çiftçi Attorney Partnership

RUNNER-UP:

Ereğli Demir ve Çelik Fabrikaları T.A.Ş (İskenderun Demir ve Çelik A.Ş)

  • USD 130m Triple-tranche ECA-back Loan Facility
  • Signed: November 2021; Door-to-door: 9.5 years, 8-year and 6.5-year with 3-year, 3-year and 1.5-year grace periods
  • ECA: Sinosure
  • Lender: BNP Paribas
  • Legal Adviser to the Lender: Baker McKenzie / Esin Attorney Partnership

ESG Loan Deal of the Year

WINNER:

1.35 GW Kalyon Karapınar Solar Power Plant Project

  • USD 1.1bn ESG Project Finance Loan
  • Signed: November 2021; Matures: December 2033
  • Facility Agent: Garanti
  • Security Agent: ISbank
  • Bookrunners: Vakifbank, ISbank, TSKB, TKYB, JPMorgan, ICBC
  • Legal Advisers to the Borrower: Linklaters, Goksu Safi Işik
  • Legal Advisers to the JLMs: Clifford Chance, Ertekin

RUNNER-UP:

Arcelik A.S.

  • EUR 150m Senior Unsecured Term Loan Facility consisting of EUR 83m Green Facility and EUR 67m Investment Facility
  • Issued: November 2021; Matures: November 2029
  • Lender: EBRD
  • Legal Adviser to the Lender: Dentons

Local Currency Bond Deal of the Year

WINNER:

Turkey Wealth Fund İstanbul Financial Centre (Emlak Varlık Kiralama A.Ş.)

  • TRY 600m Green Sukuk Al Istisna
  • Issued: December 2021; Matures: December 2023; Yield/Coupon: 22%
  • Bookrunner: Türkiye Emlak Katılım Bankası A.Ş.
  • Legal Adviser to the Issuer: Akol Law Firm, ISFA Islamic Finance Consultancy
  • Legal Adviser to the Bookrunner: Mutlu Avukatlık Ortaklığı

RUNNER-UP:

Development and Investment Bank of Türkiye

  • TRY 50m Social Sukuk
  • Issued: October 2021; Matures: January 2022
  • Exclusive Financial Adviser: Development and Investment Bank of Türkiye
  • Bookrunners: Ziraat Investment Securities
  • Legal Adviser to the Issuer: Akol Law

Corporate Funding Team of the Year

WINNER:

Arcelik A.S.


RUNNER-UP:

TAV Airports Holding

Project Sponsor of the Year

WINNER:

TAV Airports Holding


RUNNER-UP:

Limak

FI Funding Team of the Year

WINNER:

AKBank


RUNNER-UP:

ZiraatBank

Loan House of the Year

WINNER:

Deutsche Bank


RUNNER-UP:

Garanti BBVA

Bond House of the Year

WINNER:

JPMorgan


RUNNER-UP:

Citi

ESG & Sustainable Finance Adviser of the Year

WINNER:

MUFG


RUNNER-UP:

ING

Capital Markets Legal Adviser of the Year

WINNER:

White & Case


RUNNER-UP:

Allen & Overy

Banking and Finance Legal Adviser of the Year

WINNER:

Clifford Chance


RUNNER-UP:

White & Case

ACCOMODATION:

The below preferential rates are available at the Shangri-La Bosphorus, Istanbul, for attendees of the awards, subject to availability. We therefore advise that you request accommodation as soon as possible if you wish to stay at the conference hotel. Please complete the ‘Room Reservation From’ and return it to Arif.Kilincarslan@shangri-la.com.

  • Deluxe Room (Atrium View): € 450. / € 485.
  • Deluxe City Room (City View): € 490. / € 525.
  • Deluxe Bosphorus Room (Partial Bosphorus View): € 550. / € 585.
  • *Inclusive of buffet breakfast, exclusive of 8% VAT.
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