IC İçtaş Enerji Yatırım Holding A.Ş. was able to utilise its close relationship with banks to rapidly close one of Turkey’s largest project finance loans of the year. The size of the project and the acquisition of two new HEPPs from the privatisation authority also managed to attract a larger group of lenders to the transaction.
Crescent Capital was able to secure a unique project finance facility within the Turkish markets with a mezzanine facility structured as a Murabaha commodity purchase tranche, achieving a long tenor, an uncommon feature in this market, and structured as a true non-recourse facility.
For the past few years Chile has seen its worst economic performance since the crisis of 1981, largely the result of depressed copper prices – which have been falling since 2011. With copper being bested by rivals such as iron ore and nickel, persistent global supply disruptions, and a lack of economic diversification, some have wondered whether Chile could continue to lose out on critical investment to commodity-rich neighbours like Peru.
Salıpazarı Liman İşletmeciliği ve Yatırımları A.Ş, a joint venture between BLG Gayrimenkul Yatırımları ve Ticaret A.Ş. and Doğuş Holding A.Ş, secured a 14-year €1.2bn project finance facility just one month after the Turkish coup attempt and without any guarantees from the Turkish government.
The private sector has played a crucial role in the government-led PPP financing scheme that for the past decade has been successfully applied in Peru’s national infrastructure development programme. Bonds & Loans asked Camilo Carrillo Purín, Director of the Private Investment Policy Department in Peru’s Economic Ministry, about how his role in catalysing and engaging the private sector on these projects has evolved over the past year, and how the government is trying to address their needs.
The Amandi Energy Project was the only large scale base-load independent power generation project in sub-Saharan Africa to achieve financial close in 2016 and a strategically important project for the development of the country’s energy sector.
YDA raised four-year money – pushing average tenors in Turkey’s local currency market – just one week after the coup attempt and two days after S&P downgraded the country’s sovereign credit rating to junk.
F. Mehmet Cosan, Chief Financial Officer and E. Murat Kosal, Managing Director of Otoyol talk to Bonds & Loans about new opportunities in Turkey’s infrastructure sector, and discuss the company’s structured funding programme for the Gebze-İzmir Motorway Project and the Osmangazi Suspension Bridge.
A number of hospital-focused public-private partnerships attest to the success of Turkey’s healthcare development programme over the last decade, and deals like this could set the stage for a resurgence in new projects for years to come.
YDA managed to attract significant participation from international lenders on the first ever dual conventional and Islamic healthcare PPP in Turkey, a €265mn facility to help finance the construction of the Konya Hospital.
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