Cakmak in cooperation with White & Case has advised ERG Otoyol Yatirim ve Isletme A.S. on a loan of approximately EUR 1.1. billion meant for the Ankara-Nigde Motorway Project from Credit Suisse AG, Turkiye Is Bankasi A.S., Turkiye Vakiflar Bankasi A.S., Yapi ve Kredi Bankasi A.S., and the Kuwait Turkish Participation Bank Inc.
The Ankara-Nigde Motorway Project, which is to be built and financed on the Build-Operate-Transfer Model, includes the construction of a 277 kilometer motorway and access roads of 55 kilometer in total.
The senior facility agreements were executed on June 7, 2018 and the first draw-down is expected to take place by the end of June 2018. The financing of the project includes both commercial and export credit loans as well as Islamic financing and benefit from debt assumption by the Turkish Treasury.
The Cakmak team consisted of Partners Mesut Cakmak and Mustafa Durakoglu and Associates Ayse Eda Bicer, Nigar Ozbek, Nazli Basak Ayik, and Selin Erten.
