Clifford Chance advises the Finance Parties on the €300 million MIGA backed financing to Türk Eximbank

Global law firm Clifford Chance has advised the Finance Parties on a €300 million loan made available to Türkiye İhracat Kredi Bankası A.Ş. (Türk Eximbank) under the guarantee of Multilateral Investment Guarantee Agency (MIGA). This marks the first transaction of its kind under MIGA’s “Trade Finance Guarantee” programme in Turkey.

The financing will be used by Türk Eximbank to extend trade sub-loans to export-focused enterprises, covering front-end production expenditures, with priority given to green exports, SMEs, women-inclusive companies, and medium-to-high technology companies.

The Finance Parties included Standard Chartered Bank as facility agent, ING Bank, a branch of ING-DiBa AG, as coordinator, as well as BNP Paribas, Credit Europe Bank N.V., HSBC Bank Middle East Limited, ING Bank, a branch of ING-DiBa AG, and Standard Chartered Bank acting as joint bookrunners, mandated lead arrangers and lenders.

Clifford Chance’s cross-border team was led by partners Jared Grubb (Munich), Sait Eryılmaz (Istanbul), David Neu (Munich), Caroline Meinertz (London) and Jessica Springsteen (Washington, D.C., all Global Financial Markets). The partners were supported by associate Genevieve Wohlfeil (Munich), senior associates Pelinsu Demircan (Istanbul) and Charles Morris (London), associates Berke Avarkan (Istanbul), Jean Hee (London), Lucy Besser (Munich), Nicholas Johnson (Washington, D.C.) and Utku Aydın (Istanbul), and trainee lawyer Büşra Altuntaş (Istanbul, all Global Financial Markets).