"Clifford Chance Advises on €1 Billion Financing for Ankara-Kırıkkale-Delice Motorway Project"

Clifford Chance advised the lenders—Akbank T.A.Ş., T.C. Ziraat Bankası A.Ş., T. İş Bankası A.Ş., and Yapı ve Kredi Bankası A.Ş. (including Yapı Kredi Azerbaijan CJSC)—on the financing of approximately EUR 1 billion provided to FNS Otoyol Yatırım ve İşletme A.Ş. for the Ankara-Kırıkkale-Delice Motorway Project. The Ankara-Kırıkkale-Delice Motorway Project, developed under the Build-Operate-Transfer (BOT) model, involves the construction of a 120-kilometre motorway aimed at providing a safer, faster, and more comfortable route for freight and passenger transport along Ankara’s eastern and northern corridors, extending towards the Middle East and the Caucasus. The project is expected to reduce congestion on the existing Ankara-Kırıkkale state road, while minimizing fuel consumption, vehicle maintenance and repair costs, and environmental pollution. Fernas Construction is acting as both EPC contractor and shareholder. The Clifford Chance team advising on this multi-jurisdictional financing was led by Sait Eryılmaz (Partner, Istanbul) and Nikolai Eatwell (Partner, Paris), supported by Başar Kırka (Counsel, Istanbul), Berke Avarkan (Associate, Istanbul), Aykan Karpuzcu (Associate, Istanbul), Melisa Mengü (Associate, Istanbul), Alper Eski (Trainee Lawyer, Istanbul), and Ecem Nur Baki (Trainee Lawyer, Istanbul). Sandy Hall (Partner, London) and Jonathan Forrest (Senior Associate, London) advised on EPC matters, while David Neu (Partner, Munich) and Christopher Banks (Senior Associate, Munich) provided advice on hedging aspects.

"Clifford Chance Advises on €1 Billion Financing for Ankara-Kırıkkale-Delice Motorway Project"

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