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Clifford Chance and Ciftci Advise Lenders on EUR 781 Million UKEF-Covered Financing for Turkiye's High Speed Rail Project

Clifford Chance and Ciftci Advise Lenders on EUR 781 Million UKEF-Covered Financing for Turkiye's High Speed Rail Project

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Clifford Chance and its Turkish affiliate Ciftci Attorney Partnership have advised JP Morgan Chase, BNP Paribas, and ING European Financial Services on their EUR 781 million UKEF-covered financing for the Republic of Turkiye's Mersin-Adana-Osmaniye-Gaziantep high-speed rail project.

According to Clifford Chance, the project was undertaken by Turkiye's Ronesans Holding Group under an engineering, procurement, construction, and finance model. "This project represents a significant milestone for Turkiye's national railway network, as it is expected to increase the share of rail for intercity transportation and enhance integration with other transportation modes," the firm announced.

UK Export Finance is the operating name of the Export Credits Guarantee Department, the UK's export credit agency.

The joint Clifford Chance and Ciftci team included Partners Nikolai Eatwell, Sait Eryilmaz, and Jared Grubb, Counsel Gokce Uzun, Associate Sida Ozler, and Trainee Lawyer Bilgesu Cakmak.

The firms did not respond to our inquiry on the matter.

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