Global law firm Norton Rose Fulbright has advised leading Turkish carbon fiber manufacturer DowAksa in its US$100 million sustainable financing obtained from a club of Turkish banks.
DowAksa plans to utilize the sustainability linked project finance loan, that has a maturity of nine years with a two-year grace period, to increase its production capacity of carbon fiber in Turkey.
Ayşe Yüksel Mahfoud, Norton Rose Fulbright's Global Head of Corporate, M&A and Securities, said:
"Sustainable finance is gaining traction in Turkey as corporate organizations and financial institutions recognize the increasingly critical role sustainability criteria are playing in global financial, regulatory and legal systems. Responsible, environmentally friendly business practices are supported by sustainable finance deals and provide Turkish companies and investors alike with the opportunity to access premium funding while furthering climate-related and environmental, social and governance objectives."