25
Wed, Dec
91 New Articles

Gedik & Eraksoy Advises on Turkiye Wealth Fund USD 500 Million Bond Offering

Gedik & Eraksoy Advises on Turkiye Wealth Fund USD 500 Million Bond Offering

Turkiye
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Allen & Overy and Turkish affiliate Gedik & Eraksoy have advised the joint bookrunners on Turkiye Wealth Fund’s inaugural international bond offering, raising USD 500 million at 8.25% interest.

The Turkey Wealth Fund is a USD 33 billion sovereign wealth fund founded in August 2016 and owned by the Government of Turkey.

The Gedik & Eraksoy team included Partner Umut Gurgey, Senior Associate Dilsah Gurses Erulutekin, and Associate Melis Yilmaz Diler.

The Allen & Overy team was led by London-based Partner Jamie Durham.

Gedik & Eraksoy did not respond to our inquiry on the matter.

Editor's Note: After this article was published, Baker McKenzie announced it had advised the TWF on the offering. According to the firm, "despite a USD 500 million offering, the order book exceeded USD 7 billion, resulting in an oversubscription rate of over 14 times, the highest ever recorded in Turkey." The firm's team was led by London-based Partner Megan Schellinger.

Baker McKenzie at a Glance

Baker McKenzie brings insight and foresight to clients across more than 70 global offices. Our team of 13,000 people, including over 6,500 lawyers, works alongside our clients to drive growth that is both sustainable – and inclusive. The global business community is more interconnected than ever before. Opportunities and risks spill across different markets, sectors and areas of law, so a connected perspective is essential in delivering business objectives while mitigating risk. Our integrated client solutions provide seamless advice, underpinned by deep practice and sector expertise, as well as first-rate local market knowledge.

In the Central and Eastern European (CEE) region, Baker McKenzie's expansion remains steadfast, with a thriving team of over legal professionals. Our footprint extends across six offices in Austria, the Czech Republic, Hungary, Poland, Türkiye, and Ukraine. As part of our global network, coupled with well-established partnerships throughout the entire CEE landscape, we proudly stand as one of the foremost international law firms in this dynamic territory. Our reputation as a premier business law firm in CEE is a testament to our extensive experience in advising on a multitude of prestigious projects and nurturing enduring client relationships.

Firm's website.