White & Case and GKC Partners advise Yapı Kredi on US$500 million Additional Tier 1 notes issuance

Global law firm White & Case LLP and GKC Partners have advised Yapı Kredi, one of the largest private banks in Türkiye, on its offering of 9.743% US$500 million 144A/Reg S, perpetual fixed rate resettable Additional Tier 1 notes.

"With the conclusion of this transaction, Yapi Kredi has successfully raised US$2 billion in the last seven months, which is a milestone for this long-standing client of our Firm," said White & Case partner Neha Saran, who co-led the Firm's deal team. "Türkiye continues to be a very important market for White & Case and this transaction showcases our strength advising transactions with financial institutions in this important market."

The transaction was completed on April 4, 2024 and Abu Dhabi Commercial Bank, Bank of America, Citigroup, Emirates NBD, Morgan Stanley, and Standard Chartered acted as Joint Lead Managers.

The White & Case team that advised on the transaction included partners Stuart Matty, Neha Saran and Laura Sizemore (all London), counsel Doron Loewinger (London) and associates Adrien Dumoulin-Smith (Paris), Emily Thomson and Diala Kakish (both London). The GKC Partners team in Istanbul included counsel Derin Altan and associates Can Argon and Şehriban Ünlü. White & Case has a professional association with Istanbul-based GKC Partners.

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