Leading global law firm, Baker McKenzie, has advised Emirates NBD Bank PJSC, Goldman Sachs International, HSBC Bank plc, J.P. Morgan Securities plc and Merrill Lynch International in their role as joint bookrunners on Zorlu Enerji’s debut Rule 144A/Reg S USD 800 million senior guaranteed sustainability-linked notes issuance.
The transaction was one of the largest issuances in the region and the seventh bond issuance out of Türkiye that the Baker McKenzie team has acted on in 2024.
Commenting on the deal, Partner Megan Schellinger said “This transaction is another testament to our deep knowledge and expertise in the Turkish capital markets and the trust that issuers and banks alike have in our capabilities to deliver on complex transactions”.
The notes, due 2030 with a yield of 11.000%, are listed on Euronext Dublin and are subject to a redemption price step-up linked to certain ESG targets. The proceeds of the issuance will be used as part of a comprehensive refinancing of the Zorlu Group’s capital structure, including the redemption in full of the outstanding notes issued by Zorlu Renewables.
The Baker McKenzie London-based team was led by Corporate Partners Megan Schellinger and Rob Mathews and included Senior Associate Maxim Khrapov, Associates Henry Gee and Akshay Prasad and Trainee Andrey Ivanov.
Where the legal industry reads first.
Enjoyed this article? Get the biggest legal industry updates, deals, appointments, insights and expert interviews in your inbox, free.
No spam. Unsubscribe anytime.From Legal Desire
Is your firm the one being cited, or the one being skipped?
We ran the test. On several everyday legal questions, software companies are answering and law firms are not. We help firms fix that, and we build the technology behind the practice.
Lawyers and firms: get featured on Legal Desire
Share your deals, lateral moves, firm news and insights with 1M+ monthly readers: founders, law firm partners, general counsel and practising lawyers across the US, UK, EU and GCC.
Get featuredSubmit a press releaseThe advising firms, the named deal team, the value and the parties, with every other announced deal by the same firms and lawyers. Open the deal record
