Deal Marked Largest Unsecured Syndicated Loan Closed By a Company in…

Deal Marked Largest Unsecured Syndicated Loan Closed By a Company in Turkey

Istanbul, Turkey – LAWFUEL – Law & Business – February 26, 2007 — Chadbourne & Parke LLP represented Turkcell, the leading provider of mobile communications in Turkey, in the successful closing of a $3 billion unsecured syndicated term loan facility with a group of banks.

The deal, signed in Istanbul on February 26, was the largest unsecured syndicated loan facility closed by a single corporation ever in Turkey. The banks were Akbank T.A.Ş., Citibank, NA., Garanti Bankası A.S., HSBC Bank plc, J.P. Morgan plc and Standard Bank Plc as initial mandated lead arrangers and underwriters.

The facility will be used for general corporate purposes of Turkcell and its consolidated subsidiaries, including potential acquisitions and strategic investments for international expansion. The facility will be made available in U.S. dollars.

Working on the deal for Chadbourne were London office partner Laura Brank, who heads the Russia and CIS Practice, London partner Jennifer Handz and associate Matthew Hinxman.

The facility was structured as a senior unsecured term loan facility in Tranches A, B and C of US$1 billion each and with maturities of three, five and seven years respectively. Only Tranches A and B were syndicated; Tranche C was fully subscribed by Akbank T.A.Ş. and Garanti Bankasi A.S., and is structured as an amortizing facility with commercial terms in line with those of Tranches A and B.

Citibank, N.A., HSBC Bank plc, J.P. Morgan plc and Standard Bank Plc acted as Joint Bookrunners on the Facility.

The facility was heavily oversubscribed, and its success demonstrates the strength and standing of Turkcell in the international financial markets and the quality of its relationships with the international banking community.

The bank group, a diverse selection of Turkish and international lenders, is a testimony to Turkcell’s broad appeal and evidence of continued strong demand for top quality Turkish names.

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