Istanbul, Turkey, 24 November 2015 – Alacer Gold signs a
USD 250 million project finance facility for the expansion of the
Copler Gold Mine located in Turkey's Erzincan province.
"This is one of Turkey's largest project finance deals
in the mining industry. The facility will help Alacer Gold and
Anagold advance the Copler sulfide project, extending the life of
the Copler gold mine. After years of stability, the Turkish mining
industry has experienced rapid growth in revenues and profit over
the last 10 years and is expected to maintain sustained growth and
healthy profitability in the coming decade. This transaction will
definitely contribute to the growth of Turkey's mining
industry, and we are proud to have advised the investor,"
commented Partner Muhsin Keskin.
A team of lawyers from Esin Attorney Partnership, a member firm
of Baker & McKenzie International, advised Anagold Madencilik
Sanayi ve Ticaret A.S. as the borrower, and Alacer Gold Corp. and
Alacer Gold Madencilik A.S. in regards to a USD 250,000,000 senior
secured project facility with BNP Paribas (Suisse) SA, ING Bank
A.S. and Societe Generale Corporate & Investment Banking for
the expansion of the Copler Gold Mine in eastern Turkey.
The deal was led by Partner Muhsin Keskin with support from
Senior Associate Gul Incesulu and Associate Deniz Erden in
Rod Antal, Alacer's President and Chief Executive Officer,
stated, "The facility represents yet another step forward in
de-risking the Sulfide Project and further strengthens Alacer's
balance sheet enabling increased flexibility to advance growth. We
are extremely pleased to have closed the agreement on very
competitive terms with this lending syndicate."
About Esin Attorney Partnership
Esin Attorney Partnership has long been a leading provider of
legal services in the Turkish market. Today, as a member firm of
Baker & McKenzie, our team of nine partners and more than 60
lawyers is an integral part of a seamless global network. Our
Banking & Finance team is experienced in advising on project
finance, trade and export finance, acquisition finance, syndicated
lending, securitization, restructuring and insolvency, and other
banking and finance matters. The team was recently ranked in Tier 2
of IFLR 1000's Banking & Finance Turkey publication after
positive feedback from clients.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the
world's most dynamic and successful business organizations
through more than 11,000 people in 77 offices in 47 countries. The
Firm is known for its global perspective, deep understanding of the
local language and culture of business, uncompromising commitment
to excellence, and world-class fluency in its client service.
Global revenues for the fiscal year ended 30 June 2015, were
US$2.43 billion. Eduardo Leite is Chairman of the Executive
About Alacer Gold
Alacer is a leading intermediate gold mining company, with an
80% interest in the world-class Copler Gold Mine in Turkey operated
by Anagold Madencilik Sanayi ve Ticaret A.S. owned 80% by Alacer
and 20% by Lidya Madencilik Sanayi ve Ticaret A.S. Alacer Gold
continues to pursue opportunities to further expand its current
operating base to become a sustainable multi-mine producer with a
focus on Turkey. The Corporation's primary focus is to maximize
portfolio value, maximize free cash flow, minimize project risk
and, therefore, create maximum value for shareholders.
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