IFLR1000

Avrasya Tüneli $1.2 billion project

1/4/2016
PPP
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$ 1.2 billion

Announced

1/4/2016

Overview:

  • The Avrasya Tüneli (Eurasia Tunnel) is a $1.2 billion project to build a tunnel underneath the Bosphorus to connect Kazlıçeşme and Göztepe.
  • The project company for the matter is Avrasya Tüneli İşletme İnşaat ve Yatırım.
  • Export-Import Bank of Korea, European Investment Bank (EIB), European Bank for Reconstruction and Development, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Brussels Branch, Mizuho Corporate Bank acted as lenders on the matter, while Türkiye İş Bankasi, Türkiye Garanti Bankasi and Yapi Ve Kredi Bankasi acted as guarantors for the EIB loan.

Jon Moore - Journalist

Jurisdiction:

Türkiye

Deal type:

PPP

Practice areas:

Project finance
PPP/PFI

Governing law:

Turkey

Industry sector:

Transport

Firms:
Clifford Chance

Party: The Export-Import Bank of Korea (Lender)

Party: European Investment Bank - EIB (Lender)

Party: European Bank for Reconstruction and Development (Lender)

Party: Standard Chartered Bank (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Party: Mizuho Bank (Lender)

Party: Türkiye İş Bankası (Guarantor)

Party: Turkiye Garanti Bankasi (Guarantor)

Party: Yapı ve Kredi Bankası (Guarantor)

Fidan & Fidan

Party: The Export-Import Bank of Korea (Lender)

Party: European Investment Bank - EIB (Lender)

Party: European Bank for Reconstruction and Development (Lender)

Party: Standard Chartered Bank (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Party: Mizuho Bank (Lender)

Party: Türkiye İş Bankası (Guarantor)

Party: Turkiye Garanti Bankasi (Guarantor)

Party: Yapı ve Kredi Bankası (Guarantor)

Hergüner Bilgen Üçer Attorney Partnership

Party: Avrasya Tüneli İşletme İnşaat ve Yatırım (Borrower)

Lawyer: Aslı Budak

Skadden Arps Slate Meagher & Flom

Party: Avrasya Tüneli İşletme İnşaat ve Yatırım (Borrower)

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