Sait Eryılmaz heads the Finance practice of the Firm. He is specialised in banking and finance transactions, with a particular focus on project finance and structured finance.
Over the past years Sait has held a key position at the forefront of Turkish infrastructure and energy transactions, taking part in many notable projects including PPPs. He has been acting for banks, ECAs, Islamic and conventional financial institutions, sponsors and other transaction parties in domestic and international project financings, including PPPs, infrastructure, transportation (roads, railways and airports) energy projects, oil and gas, and privatisations.
Sait holds an extensive experience in finance including restructurings, syndicated financings, project financings, Islamic financings, securitisations and other structured financings along with representing issuers and underwriters in both debt and equity offerings including eurobond, sukuk and covered bond offerings in and outside Turkey.
*Clifford Chance works in cooperation with CIFTCI Law Firm on Turkish law matters
- The finance parties including international financial institutions and Islamic financiers, in relation to the refinancing of the Kınalı-Odayeri and Kurtköy-Akyazı Sections of the Northern Marmara Motorway Project (including Third Bosphorus Bridge) procured by the General Directorate of Highways of Turkey under the build-operate-transfer model
- Turkey Sovereign Wealth Fund in its debut international borrowing (EUR 1 billion syndicated loan )
- The lenders in respect of the financing of the design, construction, operation, maintenance and repair of Ankara- Niğde Motorway procured by the General Directorate of Highways of Turkey under the build-operate-transfer model
- The lenders on the financing of the largest acquisition of hydroelectric power plants in Turkey; the privatisation of Menzelet and Kılavuzlu
- HSBC in connection with the financing of Elazıg integrated health campus using the first ever greenfield project bond structure in the Turkish PPP market “Turkish Deal of the Year”, PFI Awards 2016, “European PPP Deal of the Year” Award 2016, Infrastructure Journal
- The finance parties in connection with the Bursa Integrated Health Campus PPP Project
- Akbank T. A.Ş., T. Garanti Bankası A.Ş., T. İş Bankası A.Ş. and TSKB on the USD815 million facility provided to be used for the refinancing of the loans under the existing power plants and the financing of Kızıldere III Geothermal Project of Zorlu Doğal Elektrik Üretimi A.Ş.
- Limak Yatırım Enerji Üretim İşletme Hizmetleri ve İnşaat A.Ş. and InfraKan Holding S.à.r.l. as sponsors and Hamitabat Elektrik Üretim ve Ticaret A.Ş. as borrower in connection with an ECA backed EUR395 million project financing of the Hamitabat combined cycle gas turbine power plant project, total electricity generation capacity of which will be 1,500 MW
- Goldman Sachs International in connection with the US$ 300 million financing under a credit link term loan through a participation structure for purchasing 30% of the shares of Petlim Limancılık A.Ş., an affiliate of SOCAR Turkey
- ICBC, CEXIM and Deutsche Bank in connection with the approx US$ 1.1 billion financing of Kazan soda ash-cogeneration plant (with 450MW Natural Gas Fired Cogeneration Plant) in Turkey (export credit financing)
- The mandated lead arrangers in connection with the financing of the development, construction and operation of 625 MW coal-fired power plant in Iskenderun
- CIMB Investment Bank Berhad, Citigroup Global Markets Limited and HSBC as joint lead managers on the third international US$1 billion lease certificates (sukuk) issuance by the Republic of Turkey
- Citi and HSBC on the standalone issuance by Türkiye Finans Katılım Bankası of US$500 million lease certificates (sukuk)
- Citigroup, HSBC, NCB Capital, Noor Islamic Bank, QInvest and Sharjah Islamic Bank as managers on the debut issuance by Türkiye Finans Katılım Bankası US$500 million lease certificates (sukuk)
- Koç Holding on its debut US$750 million Rule 144A/Regulation S offering of eurobonds
- The joint lead managers and co-lead managers on the second international US$1.25 billion lease certificates (sukuk issuance) by the Republic of Turkey
- Citigroup, HSBC and Kuwait Finance House as joint lead managers on the debut US$1.5 billion lease certificates (sukuk) issuance by the Republic of Turkey
- Türkiye Petrol Rafinerileri on its Rule 144A/Regulation S debut issue of US$700 million eurobond
News and client work
Career and qualifications
- Istanbul Bilgi University, Faculty of Law 2009
- Seconded to Clifford Chance LLP, UK 2017
Awards and citations
- Sait is ranked as a “next generation lawyer” in Banking, Finance and Capital Markets
Legal500 2019 and 2020
- Sait has been rated as a “rising star” in Financial & Corporate
IFLR1000 2017, 2018, 2019 and 2020