OEDAS Electricity Distribution

complete

Provision of up a senior loan up to the TRY equivalent of USD 50 million to the Osmangazi Elektrik Dagitim A.S (OEDAS, the company or the borrower), the electricity distribution company of the Osmangazi region in inner western Anatolia, Turkey. The company is owned by Zorlu Enerji Elektrik Uretimi A.S. (Zorlu Enerji) through a subsidiary, Zorlu Osmangazi Enerji Sanayi ve Ticaret A.S. (Zorlu Osmangazi), and serves around 2.79 million people. The transaction is part of an up to c. USD 350 million financing in TRY for investments required by the Energy Market Regulatory Authority (EMRA, the regulator) for the 5-year regulatory period between 2021 and 2025 (the project). The project will be financed with USD 350m debt (the financing) to be provided by the EBRD along with a group of international financial institutions and commercial banks.