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7th Annual Turkey Energy & Infrastructure Finance Conference 7. Türkiye Yıllık Enerji ve Altyapı Finansmanı Konferansı 12th & 13th March 2014 • Swissôtel The Bosphorus, Istanbul www.euromoneyseminars.com/TEIF14 Follow @EMSeminars #TEIF14 Bringing the international project finance industry to Turkey Co-Lead Sponsors: Silver Sponsors: Bronze Sponsors: Confirmed speakers include: • Cenk Arson, Chief Executive Officer, Limak Investments • Cüneyt Uygun, Chief Financial Officer, Aksa Energy • Kadri Samsunlu, Chief Financial Officer, Akfen Holding • Jason Kerr, Partner, White & Case • Mehmet Acarla, General Manager, Borusan EnBW • Şule Kılıç, Managing Director, Head of Financial Advisory Turkey, UniCredit • Peter Ahlbrecht, Head of Department Project Finance, Euler Hermes • Hüseyin Arslan, Chairman of the Board, YDA • Andi Aranitasi, Senior Banker, Power and Energy Utilities, EBRD • Jim Patti, Partner, Mayer Brown • Edward Knight, Energy Leader, Arup Turkey • Lemi Leba, Finance Director, Dia Holding • Zeynep Çakmak, Partner, Çakmak Avukatlık Bürosu • Begüm Durukan Ozaydin, Partner, Birsel Law Offices • Shigeto Hashiyama, Chief Representative, JBIC Paris • Raymond Ellis, Vice President, Global Business Development, US Export-Import Bank • Massimo d’Eufemia, Group Representative Turkey, EIB • Muhammad Yousuf, CEO, Dan & Adam • Güniz Gökçe, Partner, Akol Avukatlık Bürosu • Muhabbat Mahmudova, Senior Research Analyst, Project Finance Magazine • Ozlenen Aydin, Head of Finance, Enerjisa • Aslı Başgöz, Partner, White & Case • Tolga Çetin, Vice President, Project Finance Department, Akbank • Kerim Kemahli, Chief Financial Officer, Nurol Holding • Meltem Gülsoy, Head of Project Finance Department, TSKB • Ian Twinn, Head of Portfolio, Infrastructure & Natural Resources EMENA, IFC • Arif Ozozan, Board member and CEO, Gama Enerji • Mustafa Begun, Head of Investment Banking Department, Kuwait Turkish Participation Bank • Ismail Kazanc, Chief Financial Officer, Torunlar Group • Asaf Savaş Akat, Professor, Department of Economics, Istanbul Bilgi University • Shibeer Ahmed, Partner, White & Case • Aygin Yayikoglu, Managing Partner, Crescent Capital • Ece Guner, Partner, Guner Law • Ayse Nilufer Turkcu, Senior Associate, Birsel Law Office • Huseyin Ozhan, Principal Banker, Transportation, EBRD • Birkan Ozen, Finance Coordinator, IC Holding Simultaneous translation will be provided / Simültane tercüme hizmeti verilecektir 7th Annual Turkey Energy & Infrastructure Finance Conference 12th & 13th March 2014 • Swissôtel The Bosphorus, Istanbul 7th Annual Turkey Energy & Infrastructure Finance Conference Now in its 7th year, Project Finance Magazine and Euromoney Seminars’ Turkey Energy and Infrastructure Finance Conference is a prestigious event with in-depth coverage of the country’s investments in these sectors. This event regularly features market-making professionals, covering all areas of the Turkish energy and infrastructure finance industry and welcomes key figures every year including project sponsors, lenders, lawyers, regulators and advisors. Join your peers this March to: • Discover the key issues of 2014 in one of the world’s most exciting project finance markets to realise the full array of opportunities ahead • Learn about the defining features of the industry from the experts who shape the market in order to position yourself for the upcoming year • Meet the who's who of Turkish and international market participants and make the connections you need Register now at www.euromoneyseminars.com/TEIF14 Register now at: www.euromoneyseminars.com/TEIF14 #TEIF14 7th Annual Turkey Energy & Infrastructure Finance Conference DAY ONE AGENDA Wednesday, 12th March 2014 08.00 Registration and refreshments 08.45 Chairperson’s opening remarks 09.00 Macroeconomic overview: Is there really an ‘emerging market crisis’? • Where is the Turkish economy headed and how big is international investor appetite? • What effect could tapering have on the Turkish project finance market? • Will infrastructure and energy developments continue to drive economic growth and what conditions are necessary for that? Asaf Savaş Akat, Professor, Department of Economics, Istanbul Bilgi University 09.30 Market review: The Turkish infrastructure sector • Developments of infrastructure investments in Turkey over the past years by volumes, sectors and regions • Current financing and regulatory climate: What are the challenges in the financing structures? • Sponsors and lenders: Overview of key infrastructure investors Muhabbat Mahmudova, Senior Research Analyst, Project Finance Magazine 09.45 The annual lenders’ panel Is there a disconnect between international and local lenders in maturities, structures and pricing? • How important are relationships with and knowledge of the sponsor in deciding the term sheet? • On what deals do local and international lenders work together, and where is that not possible? • Bridge to bond financing: Has Mersin broken a barrier for project bonds? Meltem Gülsoy, Head of Project Finance Department, TSKB Bahar İlkbay Terliksiz, Senior Vice President – Project Finance Department, Akbank Güniz Gökçe, Partner, Akol Avukatlık Bürosu, moderator 10.30 Morning refreshments and networking break 11.15 Case study: How can Mersin become a model for project bonds in Turkey? • Why was the bond market a better fit for the refinancing than a loan or an IPO? • What role did the rating play in going ahead with the bond? • Examining the bond structure and investor base • Overcoming the currency and political market risk during the bond offering Kadri Samsunlu, Chief Financial Officer, Akfen Holding Huseyin Ozhan, Principal Banker, Transportation, EBRD Tolga Çetin, Vice President, Project Finance Department, Akbank Jim Patti, Partner, Mayer Brown 12.00 Greenfield power plants and the privatisation of energy assets: How will the bigger energy deals of 2014 be financed? • Are lignite power plants with their better supply conditions more bankable than imported coal and natural gas? • How will the big generation asset privatisations be financed and what lessons can be learned from the distribution assets? • What is needed from project sponsors for the financing to stand on good footing? Ismail Kazanc, Chief Financial Officer, Torunlar Group N. Sinem Telatar, Vice President, Project Finance Department, Akbank Edward Knight, Energy Leader, Arup Turkey 12.45 Lunch 14.15 Case Study: Understanding project finance documentation governed by Turkish law • Why is the Turkish law governed loan documentation on the rise? • Reconciling Turkish law governed loan and security documentation with foreign law governed collaterals • Examining key issues on a Turkish law governed project financing Ece Guner, Partner, Guner Law 14.35 The project sponsor roundtable part I: Energy What are the best sources of energy to concentrate project development on? • Mitigating Turkish merchant, supply and off-take risks • Lignite, renewables or gas: Which projects are the most promising in the current market conditions? • How important are big balance sheets and where do sponsors seek non-recourse? Ozlenen Aydin, Head of Finance, Enerjisa Cüneyt Uygun, Chief Financial Officer, Aksa Energy Zeynep Çakmak, Partner, Çakmak Avukatlık Bürosu, moderator 15.20 Afternoon refreshments and networking break 15.45 Keynote address: Ministry of health What is the long term plan and strategy for hospital PPPs?’ • What other hospital PPPs are expected to come to the market? • Why was a guarantee of debt payment in the end a good choice for the Ministry? • Outlining the effects of the PPP law and the regulations thereafter 16.15 Hospital PPPs: Structures and the bankability of current and upcoming hospital PPPs • Etlik, Kayseri, Bilkent, and beyond: What are the lessons learned in financing the first hospital PPPs? • What did project sponsors and lenders need from the government to make the structures work and how were the long tenors achieved? • What are the differences in risk allocation of Turkish and international hospital PPPs? • Outlook for potential school and prison PPPs Hüseyin Arslan, Chairman of the Board, YDA Lemi Leba, Finance Director, Dia Holding Şule Kılıç, Managing Director, Head of Financial Advisory Turkey, UniCredit Serhat İnanç, Board Member, Turkerler Holding Ayse Nilufer Turkcu, Senior Associate, Birsel Law Office, moderator 17.00 Chairperson’s closing remarks followed by drinks reception Sponsorship Registrations Catherine Alderson t: +44 (0)20 7779 8873 e: calderson@euromoneyplc.com @projectfinance Vickie Shoesmith Rebecca Römer t: +44 (0) 20 7779 8514 t: +44 (0)20 7779 8697 e: vshoesmith@euromoneyplc.com e: rromer@euromoneyplc.com @EMSeminars @RR_InTheCity Register now at: www.euromoneyseminars.com/TEIF14 Speakers ©Euromoney Seminars 2014. Euromoney Seminars reserves the right to alter the venue and/or speakers. Euromoney Seminars is a division of Euromoney Trading Limited. 7th Annual Turkey Energy & Infrastructure Finance Conference DAY TWO AGENDA Thursday, 13th March 2014 09.00 Morning refreshments 09.30 Chairperson’s opening remarks Aslı Başgöz, Partner, White & Case 09.45 Multilaterals: With European banks still concentrated on core markets, will multilaterals continue to do the heavy lifting? • After Mersin port: How important can investments in infrastructure debentures become? • The importance of Turkey within the CEE for multilateral investments • How does multilateral involvement change financing structures and funding costs? Ian Twinn, Head of Portfolio, Infrastructure & Natural Resources EMENA, IFC Massimo d’Eufemia, Group Representative Turkey, EIB Andi Aranitasi, Senior Banker, Power and Energy Utilities, EBRD 10.30 The project sponsor roundtable part II: Infrastructure Is there enough liquidity to finance Turkish projects? • Are the recent ‘all Turkish lenders’ deals a model for all future large infrastructure projects? • Roads, ports, railways and more: What sectors bring the most profitable projects? • What format and structures do sponsors prefer in infrastructure tenders? Cenk Arson, Chief Executive Officer, Limak Investments Birkan Ozen, Finance Coordinator, IC Holding Kerim Kemahli, Chief Financial Officer, Nurol Holding Miguel Prieto, Infrastructure Leader, Arup Spain Begüm Durukan Ozaydin, Partner, Birsel Law Offices, moderator “The Euromoney event has become a must-attend event for those who are involved in energy and infrastructure financing projects in Turkey” 11.00 Islamic finance: Can sharia based financings adapt to suit Turkish project finance structures? • Structure complexity: How does Islamic Finance fit into existing energy and infrastructure financing structures and what can facilitate compatibility? • Are Islamic financiers following Middle Eastern project sponsors into the market and how has the local Islamic Finance market developed? • Overcoming challenges of tenor length in Islamic Finance to work for Turkey’s projects Mustafa Begun, Head of Investment Banking Department, Kuwait Turkish Participation Bank Shibeer Ahmed, Partner, White & Case Muhammad Yousuf, CEO, Dan & Adam 11.45 Morning refreshments and networking break 12.15 Wind and solar: Have renewable energy sources become competitive enough? • How have the licensing application processes be changed and where do current renewable projects stand in their development? • Has the price of solar come down sufficiently to make the projects profitable and which projects are closest to come to the market? • What role does the local component clause and the feed in tariff play in the bankability of renewable projects? Arif Ozozan, Board member and CEO, Gama Enerji Aygin Yayikoglu, Managing Partner, Crescent Capital Mehmet Acarla, General Manager, Borusan EnBW 13.00 ECAs: How has the composition of ECAs involved in Turkey evolved in the recent past? • Is there a specialisation on either the energy or infrastructure side? • How important are historical country relationships for ECA involvement? • In what ways do ECAs facilitate non-recourse financing and will that have a significant impact in the near future? • Has the country diversion of ECAs become more important than ever? Peter Ahlbrecht, Head of Department Project Finance, Euler Hermes Raymond Ellis, Vice President, Global Business Development, US Export-Import Bank Shigeto Hashiyama, Chief Representative, JBIC Paris Jason Kerr, Partner, White & Case, moderator 13.45 Chairperson’s closing remarks followed by networking lunch and close of conference M. Togan Turan, Paksoy New venue for 2014: Swissôtel The Bosphorus This award winning, five-star luxury hotel is located right in the centre of Istanbul on the European banks of the Bosphorus. Nestled within 65 acres of historical gardens with world-class Register now at: www.euromoneyseminars.com/TEIF14 shopping and vibrant nightlife nearby, it offers luxurious guest rooms and state-of-the-art conference facilities to make your visit around the event better than ever. #TEIF14 7. Türkiye Yıllık Enerji ve Altyapı Finansmanı Konferansı 12 & 13 Mart 2014 7. Yıllık Türkiye Enerji ve Altyapı Finansmanı Konferansı 7.si düzenlenen Project Finance Magazine ve Euromoney Seminerleri' nin Türkiye Enerji ve Altyapı Finansmanı Konferansı, ülkenin bu sektörlerdeki yatırımının derinlemesine işlendiği en prestijli etkinliktir. Bu etkinlik, düzenli olarak, Türk enerji ve altyapı finansman endüstrisinin her alanını kapsama yoluyla piyasa belirleme profesyonellerini konu alır ve her yıl aralarında proje sponsorları, kredi kuruluşları, avukatlar, düzenleyiciler ve danışmanların da olduğu önemli kişileri konuk eder. Bu Mart ayında iş arkadaşlarınıza katılarak: • 2014 yılının ana meselelerini ilerideki fırsatlar zincirinin tamamını gerçeğe dönüştürmek için dünyanın en heyecan verici proje finansman piyasalarından birinde keşfedin. • Endüstrinin tanımlayıcı özelliklerini kendinizi gelecek yılda konumlandırmak için piyasayı şekillendiren uzmanlardan öğrenin • Türk ve uluslararası piyasa katılımcıları ile tanışın ve ihtiyacınız olan bağlantıları kurun. www.euromoneyplc.com/TEIF14 adresinde şimdi kaydolun BIRINCI GÜN: ÇARŞAMBA, 12 MART 2014 8.00 Kayıt ve ikramlar 8.45 Başkan’ın açılış konuşması 16.15 Hastane Satın alma Gücü Pariteleri: Mevcut ve gelecekteki hastane satın alma gücü paritelerinin yapıları ve bankalarca kabul edilebilirliği 09.30 Sanayi genel bakış: Altyapı yatırımları Hüseyin Arslan, Chairman of the Board, YDA Lemi Leba, Finance Director, Dia Holding Şule Kılıç, Managing Director, Head of Financial Advisory Turkey, UniCredit Serhat İnanç, Board Member, Turkerler Holding Ayse Nilufer Turkcu, Senior Associate, Birsel Law Office, moderator Muhabbat Mahmudova, Senior Research Analyst, Project Finance Magazine 17.00 Başkan'ın kapanış konuşması ve ardından kokteyl resepsiyonu 9.00 Makroekonomik genel bakış: Gerçekten de bir ‘yükselen piyasa krizi’ mevcut mu? Asaf Savaş Akat, Professor, Department of Economics, Istanbul Bilgi University 09.45 Yıllık Kredi Kuruluşları Paneli Uluslararası ve yerel kredi kuruluşları arasında vadeler, yapılar ve fiyatlandırma konusunda bir bağlantı kopukluğu var mı? Meltem Gülsoy, Head of Project Finance Department, TSKB 10.30 Sabah ikramları ve ilişki ağı oluşturma molası 11.15 Vaka çalışması: Mersin Türkiye'deki proje tahvilleri için bir model oluşturabilir mi? Kadri Samsunlu, Chief Financial Officer, Akfen Holding Huseyin Ozhan, Principal Banker, Transportation, EBRD Tolga Çetin, Vice President, Project Finance Department, Akbank Jim Patti, Partner, Mayer Brown 12.00 Greenfield güç santralleri ve enerji varlıklarının özelleştirilmesi: 2014'ün daha büyük enerji ticaretleri nasıl finanse edilecek? Ismail Kazanc, Chief Financial Officer, Torunlar Group N. Sinem Telatar, Vice President, Project Finance Department, Akbank Edward Knight, Energy Leader, Arup Turkey 12.45 Öğle Yemeği 14.15 Örnek inceleme: Türk hukukuna tabi proje finansmanı belgelerini anlamak Ece Guner, Partner, Guner Law 14.35 Proje Sponsoru Yuvarlak Masa Toplantısı Bölüm I: Enerji Proje geliştirmeye odaklanacak en iyi enerji kaynakları nelerdir? Ozlenen Aydin, Head of Finance, Enerjisa Cüneyt Uygun, Chief Financial Officer, Aksa Energy Zeynep Çakmak, Partner, Çakmak Avukatlık Bürosu 15.20 Akşamüstü ikramları ve ilişki ağı oluşturma molası 15.45 Toplantı Açılış Konuşması: Sağlık Bakanlığı Hastane satın alma gücü pariteleri için uzun dönemli planlar ve stratejiler nelerdir? İKINCI GÜN: PERŞEMBE, 13 MART 2014 09.00 Sabah ikramları 09.30 Başkan’ın açılış konuşması Aslı Başgöz, Partner, White & Case 09.45 Çok taraflılar: Avrupa bankalarının hâlâ ana piyasalara odaklanmış durumda olduğu şu durumda, çok taraflılar işin çoğunu üstlenmeye devam edecek mi? Ian Twinn, Head of Portfolio, Infrastructure & Natural Resources EMENA, IFC Massimo d’Eufemia, Group Representative Turkey, EIB 10.30 Proje Sponsoru Yuvarlak Masa Toplantısı Bölüm II: Altyapı Türk projelerinin finansmanı için yeterli likidite bulunuyor mu? Cenk Arson, Chief Executive Officer, Limak Investments Birkan Ozen, Finance Coordinator, IC Holding Kerim Kemahli, Chief Financial Officer, Nurol Holding Miguel Prieto, Infrastructure Leader, Arup Spain Begüm Durukan Ozaydin, Partner, Birsel Law Offices, moderator 11.00 İslami Finans: Şeriat temelli finansmanlar, Türkiye proje finansman yapılarına uymak üzere adapte edilebilir mi? Mustafa Begun, Head of Investment Banking Department, Kuwait Turkish Participation Bank Shibeer Ahmed, Partner, White & Case Muhammad Yousuf, CEO, Dan & Adam 11.45 Sabah ikramları ve ilişki ağı oluşturma molası 12.15 Rüzgâr ve güneş enerjisi: Yenilenebilir enerji kaynakları yeteri kadar rekabetçi hale geldi mi? Arif Ozozan, Board member and CEO, Gama Enerji Aygin Yayikoglu, Managing Partner, Crescent Capital Mehmet Acarla, General Manager, Borusan EnBW 13.00 İhracat Kredisi Kuruluşları (İKK): Türkiye ile ilgili İKK'ların oluşumu yakın geçmişte nasıl gelişti? Peter Ahlbrecht, Head of Department Project Finance, Euler Hermes Raymond Ellis, Vice President, Global Business Development, US Export-Import Bank Shigeto Hashiyama, Chief Representative, JBIC Paris Jason Kerr, Partner, White & Case, moderator 13.45 Başkan’ın kapanış konuşması, ardından konferansın kapanışı ve ilişki ağı oluşturma öğle yemeği Register now at: www.euromoneyseminars.com/TEIF14 #TEIF14 7th Annual Turkey Energy & Infrastructure Finance Conference • 12th & 13th March 2014 • Swissôtel The Bosphorus, Istanbul Registration 5 Easy Ways To Register Conference Full Price €1,999 DOMESTIC RATE €999 (For companies based in Turkey with no international presence) Please quote ELE1221 on all correspondance Total € Online: www.euromoneyseminars.com/TEIF14 Email: registrations@euromoneyplc.com Fax: (UK) +44 (0)20 7779 8603 Telephone: (UK) +44 (0)20 7779 7222 Post: Vickie Shoesmith Euromoney Seminars Nestor House Playhouse Yard London EC4V 5EX UK For combined and multibooking discounts please contact Vickie Shoesmith (vshoesmith@euromoneyplc.com) Delegates Delegate 1 (please print) Delegate 2 Delegate 3 Title (Mr/Mrs/Miss/Dr/Other): Title (Mr/Mrs/Miss/Dr/Other): Title (Mr/Mrs/Miss/Dr/Other): First name: First name: First name: Surname: Surname: Surname: Job title: Job title: Job title: Company: Company: Company: VAT No (EU only): VAT No (EU only) : VAT No (EU only): Address: Address: Address: Country: Country: Country: Postcode: Postcode: Postcode: Tel: Tel: Tel: Fax: Fax: Fax: Email: Email: Email: The information you have provided will be safeguarded by Euromoney Seminars who will use it to keep you informed of relevant Seminars in the future. Please tick how you would prefer to receive future information Mail Fax Email and fax back this form to +44 (0)20 7779 8603. We may wish to make your details available to sponsors of this particular event, or to other reputable organisations who may wish to contact you. Please tick this box if you would prefer your details to remain confidential and fax back this form to +44 (0)20 7779 8603. Euromoney Seminars is part of the Euromoney Trading Limited, who may also use your data to keep you informed of relevant products and services both domestically and internationally. If you object to being contacted by telephone fax or email in respect of this, please tick the relevant box and fax back this form to +44 (0)20 7779 8603. Payment Payment can be made in one of three easy ways – please tick the appropriate box. Payment by Bank Transfer Should be made through Lloyds TSB Bank Plc, City Office, PO Box 72, Bailey Drive, Gillingham Business Park, Gillingham, Kent, ME8 0LS, UK. Beneficiary: Euromoney Seminars Account No: 86116918 Sort code: 30-12-18, IBAN No: GB 80 LOYD 301218 86116918 Swift Address: LOYD GB2 LCTY quoting ELE1221. All charges to be paid by sender. Payment by debit or credit card To make a payment by credit card, please call +44 (0)20 7779 7222 or visit www.euromoneyseminars.com/TEIF14 to book and pay online Cheques should be made payable to Euromoney Seminars. Invoice me (option not available after 26th February, 2014) Please complete and return this form together with a copy of your bank transfer or cheque, payable in € to Euromoney Seminars, and send by post or fax to: Euromoney Seminars, Nestor House, Playhouse Yard, London EC4V 5EX, UK Tel: (UK) +44 (0) 20 7779 7222; Fax: (UK) +44 (0) 20 7779 8603 Email: registrations@euromoneyplc.com www.euromoneyseminars.com/TEIF14 Administrative Information Venue: Swissôtel The Bosphorus, Istanbul Bayıldım Cad. No: 2 Maçka Beşiktaş 34357 Istanbul, Turkey Tel: (90) 212 326 1100 Travel & Accommodation: When you register you will be sent a hotel booking form with a username and password to request accommodation through the online reservation system. Banks Sadler have negotiated preferential room rates on behalf of all Euromoney delegates and look forward to assisting you with the best accommodation for your budget. Cancellation policy: All bookings are considered binding on receipt of booking form. Cancellations must be received in writing (letter, fax, email) by 26th February, 2014. All cancellations received by this date will incur a 10% administration fee. If payment has been made, a refund will be processed; any outstanding invoices will be liable for 10% of the registration fee. Cancellations made after 26th February, 2014 will be liable for the full conference fee. Should you be unable to attend the event, a substitute may attend in your place at no extra charge. Registration fee: The registration fee includes participation in the conference, lunches and documentation material, which will be available in electronic format the night before the event. Please use your username and password in order to access them. Conference passes are for an individual delegate only to attend both days of the event and cannot be split between days with others. Cannot attend? Please pass this brochure on to a colleague or you can purchase the online documentation for €599. If your company is registered within the EU please supply your VAT number. Euromoney Seminars reserves the right to change the currency and pricing of the conference at any time up to the date of the event. For immediate information on this and related events, please call Telephone: (UK) +44 (0)20 7779 7222 or alternatively email: hotline@euromoneyplc.com For further information on sponsorship or exhibition opportunities please contact Catherine Alderson Tel: +44 (0)20 7779 8873 Fax: +44 (0) 20 7779 8603 Email: calderson@euromoneyplc.com