Zorlu Yenilenebilir Enerji’s Debut High-yield Notes Issuance

Zorlu Yenilenebilir Enerji's Debut High-yield Notes Issuance

Paul Hastings LLP and Paksoy advised BofA Securities as global coordinator on the deal. GKC Partners advised Zorlu Yenilenebilir Enerji A.S.

BofA Securities acted as global coordinator for the debut high-yield notes issuance of Zorlu Yenilenebilir Enerji A.S., a subsidiary of Zorlu Enerji A.S., a leading integrated utility company whose shares are listed on Borsa Istanbul.

Zorlu Yenilenebilir Enerji A.S. is a renewable energy leader in Turkey and operates twelve renewable energy power plants, comprising four geothermal power plants, one wind power plant and seven hydroelectric power plants with a combined total installed capacity of 559 MW of electricity.

The $300 million of 9.000% Senior Secured Notes due 2026 will be used, among other things, for certain debt refinancing purposes, for capital expenditures and general corporate purposes and to pay fees, costs and expenses related to the offering.

The Paul Hastings team was led by partners Peter Schwartz (Picture) and Derwin Jenkinson, with associates Riccardo Maggi Novaretti and Lorenzo Colombi-Manzi assisting.

Paksoy’s team included Partners Omer Collak and Sera Somay, Senior Associates Nazli Tonuk Capan and Beril Paksoy, and Associates Sabri Kaya, Elvan Yolcu, and Ege Serra Onal.

GKC Partners’ team included Partners Derin Altan and Ates Turnaoglu, Associates Eren Ayanlar, Aybike Iplikci, Caglar Senol, and Gozde Berkil, and Legal Interns Zeynep Ulasan and Sehriban Unlu.

Involved fees earner: Derin Altan – GKC Partners; Eren Ayanlar – GKC Partners; Gozde Berkil – GKC Partners; Aybike Iplikci – GKC Partners; Caglar Senol – GKC Partners; Ates Turnaoglu – GKC Partners; Zeynep Ulasan – GKC Partners; Sehriban Unlu – GKC Partners; Ömer Çollak – Paksoy; Sabri Kaya – Paksoy; Ege Serra Onal – Paksoy; Beril Paksoy – Paksoy; Sera Somay – Paksoy; Nazli Tonuk Capan – Paksoy; Elvan Yolcu – Paksoy; Lorenzo Colombi-Manzi – Paul Hastings LLP; Derwin Jenkinson – Paul Hastings LLP; Riccardo Maggi Novaretti – Paul Hastings LLP; Peter Schwartz – Paul Hastings LLP;

Law Firms: GKC Partners; Paksoy; Paul Hastings LLP;

Clients: Bank of America Securities; Zorlu Yenilenebilir Enerji ;

Author: Federica Tiefenthaler