Paksoy has advised Ziraat Katilim Bankasi on a USD 500 million issuance of Islamic bond certificates on Euronext Dublin. Clifford Chance and its Turkish affiliate Ciftici Attorney Partnership advised joint lead managers Dubai Islamic Bank, Emirates NBD Capital, HSBC, and Standard Chartered Bank. Akin Gump reportedly advised Ziraat Katilim Bankasi as well.
According to Paksoy, this is the first “international sukuk issuance of a state-owned Islamic bank operating in Turkiye, and the offering was almost five times oversubscribed.”
The Paksoy team included Partner Sera Somay, Senior Associate Merve Kurdak, and Associates Melis Gencol Ince and Bengisu Yilmaz.
The Ciftci team included Istanbul-based Partner Sait Eryilmaz and Associate Bilgesu Cakmak. The Clifford Chance team included lawyers in Dubai and London.