Baker McKenzie and its Turkish affiliate Esin Attorney Partnership have advised Akbank on the issuance of USD 500 million senior unsecured sustainability notes due in 2030. A&O Shearman and its Turkish affiliate Gedik & Eraksoy advised the joint bookrunners.
According to Baker McKenzie, "the issuance, structured under Regulation S and Rule 144A was priced at 7.498%. The net proceeds of the issuance of the notes are intended to be used towards the financing of certain eligible green and/or social projects in accordance with Akbank's Sustainable Finance Framework."
Earlier this year, Baker McKenzie and Esin advised on Akbank's USD 600 million note issuance (as reported by CEE Legal Matters on March 22, 2024). In 2023, Esin advised Akbank on an international syndicated loan (as reported by CEE Legal Matters on November 8, 2023).
The Esin Attorney Partnership team included Partner Muhsin Keskin, Associate Busra Cavas, and Trainee Semih Aktas.
The Baker McKenzie team included Londong-based Partner Megan Schellinger, Senior Associates Maxim Khrapov and James Tanner, Associate Akshay Prasad, and Trainee Tatiane Kalaji.
The A&O Shearman team included London-based Partners Jamie Durham and Sachin Dave, Senior Associates Aditya Vikram and Katrien Wilmots, and Associate Ariel Aiash.
The Gedik & Eraksoy team included Partner Umut Gurgey and Associates Nur Ertekin and Melis Yilmaz Diler.
