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SOCAR Turkey Completes a USD 1.3 Billion Equivalent Refinancing

SOCAR Turkey completes a USD 1.3 billion equivalent refinancing Background Image

Vinson & Elkins advised SOCAR Turkey, 100% owned subsidiary of State Oil Company of Azerbaijan Republic (“SOCAR”), in connection with a USD 1.3 billion equivalent syndicated loan facility to refinance its existing financial liabilities, on 13 August 2021.

The transaction marks the largest syndicated loan arrangement completed in 2021 to date by a non-financial company in Turkey.

The V&E team was led by partner Nabil Khodadad and counsel Lauren Davies, with assistance from associate Serena Eum and trainee Rebecca Hilton. Also advising were partner Louise Woods and associate Sophie Freelove; and counsel Andrew Callaghan, senior associate Byul Han and associate Simrita Chadha.

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