WFW advises J.P. Morgan on US$380m bond issue by Gürmat Elektrik
The proceeds will be used to refinance Gürmat’s existing loans and fund an optimisation programme.
The proceeds will be used to refinance Gürmat’s existing loans and fund an optimisation programme.
The US$470m sale price will be paid in three instalments: US$160m paid upon completion of the transaction on 27 October, followed by payments of US$160m and US$150m on the one and two-year anniversaries of closing.
The loan is backed by German ECA Euler Hermes.
On October 14, 2019, President Trump issued an Executive Order imposing sanctions on certain Turkish governmental officials and ministries in response to Turkey’s military offensive in Syria.
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