Clifford Chance

Clifford Chance advises TAV Airports on the €342 million long-term financing for the Ankara Esenboğa Airport

International law firm Clifford Chance has advised TAV Airports on the €342 million financing relating to the capacity increase and the renewal of operation rights of the Ankara Esenboğa Airport, marking a key development in the aviation sector in Türkiye. The financing package includes a 13-year term facility of €300 million to be used in the refinancing of the existing bridge facility obtained in 2023 and the construction of the remaining capacity increase works, a €10 million revolving working capital facility for short-term working capital needs, and a €32 million non-cash facility for the letter of guarantee obligations relating to the operation of the Ankara Esenboğa Airport. Türkiye İş Bankası and Türkiye Sınai Kalkınma Bankası acted as lenders for the transaction.

The Clifford Chance team advising on this significant transaction was led by Sait Eryılmaz (Partner, Istanbul) and Nikolai Eatwell (Partner, Paris), with support from Başar Kırka (Senior Associate, Istanbul), and Fatih Göktuğ İpin, Utku Aydın and Melisa Mengü (all Associates, Istanbul).