Karpower International’s securing of a US$250 million amortising loan to refinance existing Ghana PPA Loan and provide additional liquidity for investments in the powership business received the “Structured Finance Deal of the Year Award” at the 2022 Bonds, Loans & Sukuk Awards Turkey. Dentons advised Karpower International on the award-winning deal.

Karpower International secured an amortising loan to refinance existing Ghana PPA loan and provide additional liquidity for further investments in the powership business. The mandated lead arranger was Deutsche Bank.

The Ghanian loan assurance demonstrates the ability of Karpower as a Turkish sponsor to leverage both local financing relationships going into new jurisdictions as well as existing global/regional financiers.

Our Banking and Finance partner Tamsyn Mileham led the transaction from Istanbul together with associates Canberk Varis, Merve Çolak and Ceren Köksoy of BASEAK. The team managed the entire transaction, including negotiation, structuring and closing.

The Bonds, Loans & Sukuk Awards Turkey recognize the most innovative and ground-breaking deal in Turkey’s credit markets. The ceremony, which brought together many of the industry’s most high-profile figures, took place at the Shangri-La Bosphorus in Istanbul on November 22, 2022.