Global law firm Clifford Chance has advised ING BANK, A BRANCH OF ING-DIBA AG, as lender, and SACE S.p.A., Italy’s export credit agency, on a €200 million financing for Türkiye Vakıflar Bankası T.A.O. (VakıfBank).
The financing has a tenor of 10 years and is guaranteed by SACE for 95%. The facility is intended to meet the financing needs of customers foreign trade with Italy. The transaction is expected to support customers’ access to trade finance while also contributing to the growth of trade volume between Türkiye and Italy.
The cross-border Clifford Chance team was led by partners Anna Thwaites (Frankfurt), Sohini Kar-Purkayastha (Paris), Sait Eryılmaz (Istanbul, all Project Development & Finance) and counsel Filippo Tassoni (Debt Finance, Rome), and included counsel Ali Can Altıparmak (Project Development & Finance, Istanbul), senior associate Giuseppe Chiaula (Debt Finance, Munich) and associates Aykan Karpuzcu (Istanbul) and Camille Bamba (Paris, both Project Development & Finance).
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