Press Release

Morgan Lewis Advises on $1.66B Refinancing of One of Turkey’s Largest Industrial Businesses

August 01, 2018

LONDON, 1 August 2018: Morgan Lewis advised We Soda Ltd on a $1.66 billion loan facility provided by a consortium of international lenders led by Goldman Sachs, Bank of China, Denizbank, and Isbank. The facility will be used primarily to refinance existing indebtedness.

Owned by the Ciner Group, We Soda is the world’s largest soda ash producer with operations in Turkey and Wyoming. Soda ash and sodium bicarbonate are used in the production of glass, detergents, food, pharmaceuticals, and chemicals.

The Morgan Lewis team was led by partners Bruce Johnston and Tom Cartwright in London, and Terrence Dugan in New York, with assistance from associates Nichola Foley and Shantanu Vaid. The team worked in collaboration with Mehmet Ali Erdogan of Regnum Solicitors in London and Polat Dilli of DDEM Law Office in Turkey.