White & Case advises joint bookrunners on Limak Yenilenebilir Enerji’s US$450 million debut green bond issuance and subsequent US$75 million tap

Global law firm White & Case LLP and GKC Partners have advised the joint bookrunners on the debut Rule 144A/Reg S US$525 million green bond issuance by Limak Yenilenebilir Enerji A.Ş. (Limak Renewable Energy), comprising an initial US$450 million offering followed by a US$75 million tap issuance consolidated into a single series.

"This landmark green bond issuance demonstrates the continued evolution of sustainable finance in Türkiye's energy sector, with strong investor demand reflecting the market's growing appetite for sustainable energy investments in emerging markets," said White & Case partner Richard Pogrel, who co-led the Firm's deal team. "The successful transaction also underlines investor confidence in Limak Renewable Energy's commitment to renewable energy and sets a new benchmark for green financing in the Turkish capital markets."

White & Case advised Emirates NBD Capital, J.P. Morgan Securities plc and Bofa Securities on the initial US$450 million offering and Bofa Securities on the US$75 million tap issuance which followed. The notes, classified as green bonds and issued under the Turkish law, are senior amortizing obligations due 2030 and are listed on Official List of The International Stock Exchange.

The White & Case team in London which advised on the transaction was led by partners Richard Pogrel, Melissa Butler and James Greene and included associates Hashim Eltumi and Jack Adachi. The GKC Partners team in Istanbul included partner Ateş Turnaoğlu, counsel Derin Altan and associates Kaan Alkan, Şehriban Ünlü and Muhammed Aşula.

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