Bär & Karrer Advises Credit Suisse on the ECA Financing and Collateral Structure for the Ankara - Nidge Highway Project in Turkey
Bär & Karrer advises Credit Suisse AG on the financing and the Swiss collateral structure for the EUR 1.46 billion Ankara - Nidge Highway Project in Turkey. The loan facilities were provided through four separate covered and uncovered facilities by a consortium of banks, including Credit Suisse. The covered facilities in the total amount of approx. EUR 500 million consist of a loan covered by a guarantee of Denmark's Export Credit Agency EKF in the amount of approx. EUR 350 million and a loan covered by an insurance coverage of the Swiss Export Risk Insurance SERV in the amount of EUR 150 million.
Bär & Karrer acted as Swiss legal counsel to Credit Suisse with regard to the transaction. The team included Peter Hsu and Sandro Fehlmann (both Banking & Insurance/M&A). Clifford Chance acted as international counsel to the lenders.