Hogan Lovells advises on US$415 Million and EUR597 Million Dual Currency Term Loan Facilities for Ziraat Bankasi A.Ş.

The facilities attracted commitments from 38 banks across the globe, including Ziraat’s core relationship banks. The deal was highly successful against the wider backdrop of significant market volatility caused by Covid-19 and the challenging macroeconomic environment and is a testament to Ziraat’s intrinsic financial strength, continued strong performance as well as its solid banking relationships.

Abu Dhabi Commercial Bank PJSC and Emirates NBD Capital Limited acted as joint coordinators on this transaction.

The Hogan Lovells team was led by Rahail Ali (Global Head of Islamic Finance & Managing Partner, Dubai), with support from Ahmet Kalafat (Senior Associate, Dubai) and trainee Andrew Holzman.

Commenting on the transaction, Rahail Ali said:

"We have been involved in the Turkish Banking and Finance market for a very long time. Turkey has made great progress in the area banking and finance area within the last decade and we are proud to be part of this impressive journey. I am happy to say that the successful completion of this transaction is a testament to Ziraat being a leader in the Turkish banking sector.”

Commenting on the transaction, Ahmet Kalafat said:

“Turkey is one of the fastest growing markets worldwide, supported by a robust economic outlook. We have a strong track record in Turkey, and this transaction fits perfectly into Hogan Lovells’ strategy to strengthen its position in the Turkish market”.