Baker McKenzie has advised Emirates NBD Bank, Goldman Sachs International, HSBC Bank J.P. Morgan Securities, and Merrill Lynch International as joint bookrunners on Zorlu Enerji's USD 800 million debut Rule 144A/Reg S senior guaranteed sustainability-linked notes issuance. White & Case and its Turkish affiliate GKC Partners advised Zorly Enerji.
According to Baker McKenzie, the notes, due in 2030 with a yield of 11.000%, are listed on Euronext Dublin and are subject to a redemption price step-up linked to certain ESG targets. The proceeds from the issuance will be used as part of a comprehensive refinancing of the Zorlu Group's capital structure, including the full redemption of outstanding notes issued by Zorlu Renewables.
The Baker McKenzie London-based team included Partners Megan Schellinger and Rob Mathews, Senior Associate Maxim Khrapov, Associates Henry Gee and Akshay Prasad, and Trainee Andrey Ivanov.
The White & Case team included London-based Partners Richard Pogrel and Melissa Butler and Associates Hashim Eltumi, Anu Alamatu, and Thomas Barker-Weinberger.
The GKC Partners team included Partner Guniz Gokce, Counsel Derin Altan, Associates Kaan Alkan and Sehriban Unlu, and Legal Intern Muhammed Asula.
