Material Event Disclosures


The first coupon payment amounting to TL 1,328,603.64 on the TL 80,220,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN42128 was made as of today.

The seventh coupon payment amounting to TL 142,200.78 on the TL 9,830,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNA2014 was made as of today.

The third coupon payment amounting to TL 3,830,303.08 on the TL 102,400,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN22112 was made as of today.

The interest rate for the fourth coupon payment of the TL 102,420,000 nominally valued commercial paper, which was sold to qualified investors on February 19, 2020 with a maturity of 357 days and trades with the ISIN Code of TRFZORN22112, has been set as 4.0822%.

Pursuant to our material event disclosures dated 08.02.2018, 07.05.2019, 22.05.2019 and 29.08.2019, ZJ Strong Energy For Renewable Energy Ltd. Co. (ZJ Strong), in which Zorlu Enerji Elektrik Üretim AŞ and Jerusalem District Electricity Co. Ltd. (JDECO) have 75% and 25% stakes respectively, commissioned its Dead Sea Solar Power Plant which was constructed in Jericho, Palestine with a total installed capacity of 1.998 MWp (2 x 0.999 MWp). Under the power purchase agreement signed between ZJ Strong and JDECO, ZJ Strong will sell electricity to JDECO at a guaranteed price for 25 years.

The eleventh coupon payment, amounting to TL 389,928.77, on the TL 24,040,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 377 days and with the ISIN Code of TRSZORNA2035, was made as of today.

The second coupon payment, amounting to TL 1,183,598.20, on the TL 47,240,000 nominally valued Commercial Paper, which was sold to qualified investors with a maturity of 321 days and with the ISIN Code of TRFZORN62126, was made as of today.

The interest rate for the third coupon payment of the TL 5,650,000 nominally valued commercial paper, which was sold to qualified investors on May 31, 2019 with a maturity of 565 days, an 8% real return linked to CPI (min. 32% annual simple return at redemption) and trades with the ISIN Code of TRSZORNA2019, has been set as 40.8216%.

The interest rate for the third coupon payment of TL 1,800,000 nominally valued corporate bond, which was sold to qualified investors on June 14, 2019 with a maturity of 551 days and trades with the ISIN Code of TRSZORNA2027, has been set as 39.6088%

Commercial Paper with the ISIN Code of TRFZORNE2028 was reedemed as of today with the completion of the principal payment of TL 39,100,000.

Commercial Paper with the ISIN Code of TRFZORNE2010 was reedemed as of today (October 23, 2020) with the completion of the fourth coupon payment amounting TL 2,737,772.92 and principal payment of TL 54,680,000.

Commercial Paper with the ISIN Code of TRFZORNE2036 was reedemed as of today with the completion of the principal payment of TL 31,400,000.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 80,220,000 commercial paper with fixed coupon payments with a maturity of 181 days to domestic qualified investors on October 23, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 82,420,000 corporate bond with floating coupon payments with a maturity of 384 days to domestic qualified investors on October 23, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Within the scope of the CMB approval, the Company completed the sale of a TL 35,000,000 lease certificate with fixed coupon payments with a maturity of 166 days to domestic qualified investors on October 23, 2020.

Lease certificate with the ISIN Code of TRDYVKSE2016 was reedemed as of today (October 23, 2020) with the completion of the firsth coupon payment amounting TL 3,419,200 and principal payment of TL 80,000,000.

The sixth coupon payment amounting to TL 137,757.62 on the TL 9,830,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNA2014 was made as of today.

The fifth coupon payment amounting to TL 1,818,266.44 on the TL 24,310,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN12116 was made as of today.

Pursuant to our material event disclosures dated 06.08.2019 and 08.05.2020, the transfer of Zorlu Enerji Elektrik Üretim AŞ’s entire stake with a nominal value of 9,970 PKR (Pakistan Rupee) in Zorlu Solar Pakistan Limited, which is a 99.7% owned subsidiary of the Company, to its fully-owned subsidiary Zorlu Enerji Asia Holding Limited is completed.

Pursuant to our material event disclosures dated 09.09.2020 and 16.09.2020, Zorlu Enerji has been notified today (19.10.2020) that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL950 mn.

The interest rate for the sixth coupon payment of TL 24,310,000 nominally valued corporate bond, which was sold to qualified investors on July 24, 2019 with a maturity of 546 days and trades with the ISIN Code of TRSZORN12116, has been set as 7.4795%.

The tenth coupon payment, amounting to TL 377,740.48, on the TL 24,040,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 377 days and with the ISIN Code of TRSZORNA2035, was made as of today.

The first coupon payment, amounting to TL 1,659,.462.28, on the TL 42,730,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 482 days and with the ISIN Code of TRSZORNK2116, was made as of today.

The interest rate for the second coupon payment of TL 42,730,000 nominally valued Corporate Bond, which was sold to qualified investors on July 17, 2020 with a maturity of 482 days and trades with the ISIN Code of TRSZORNK2116, has been set as 4.2230%.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 9,850,000 commercial paper with floating coupon payments with a maturity of 358 days to domestic qualified investors on September 30, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 19,300,000 discounted commercial paper with a maturity of 204 days to domestic qualified investors on September 30, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Commercial Paper with the ISIN Code of TRFZORN92032 was reedemed as of today with the completion of the principal payment of TL 78,00,000.

The conclusion section of the "Report on the Common and Continuous Transactions" between the Company, its subsidiaries and their related parties, which was prepared in accordance with the Article 10 of the Capital Markets Board’s Communiqué on Corporate Governance No. II.17.1 with the purpose of determining the common and continuous transactions to be realized in 2020 by taking into account the similar transactions undertaken in 2019, is presented below:

Within the context of the Company’s financial planning for the year 2020:

Revenues to be generated by Osmangazi Elektrik Dağıtım AŞ, which is indirectly 100% owned by Zorlu Enerji Elektrik Üretim AŞ (“Company”) via Zorlu Osmangazi Enerji Sanayi ve Ticaret AŞ, from the provision of the use of distribution system and meter reading services to Osmangazi Elektrik Perakende Satış AŞ are foreseen to exceed 10% of the Company’s publicly announced 2019 consolidated revenues in 2020. The afore-mentioned service transactions are conducted in accordance with the procedures and principles specified by the Energy Market Regulatory Authority.

The fifth coupon payment amounting to TL 142,200.78 on the TL 9,830,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNA2014 was made as of today.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 29,845,000 corporate bond with floating coupon payments with a maturity of 370 days to domestic qualified investors on September 18, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 62,090,000 discounted commercial paper with a maturity of 189 days to domestic qualified investors on September 18, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Commercial Paper with the ISIN Code of TRFZORN92016 was reedemed as of today with the completion of the fourth coupon payment amounting TL 922,530.28 and principal payment of TL 17,620,000.

Commercial Paper with the ISIN Code of TRFZORN92024 was reedemed as of today with the completion of the principal payment of TL 44,970,000.

The fourth coupon payment amounting to TL 637,708.26 on the TL 12,180,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN12124 was made as of today.

The interest rate for the fifth coupon payment of TL 12,180,000 nominally valued corporate bond, which was sold to qualified investors on September 20, 2019 with a maturity of 488 days and trades with the ISIN Code of TRSZORN12124, has been set as 5.2357%

Pursuant to our material event disclosure dated 09.09.2020, Zorlu Enerji submitted its applications to the Capital Markets Board and Borsa Istanbul AŞ for its planned corporate bond issuance as of today (16.09.2020).

The first coupon payment, amounting to TL 1,145,428.28, on the TL 47,240,000 nominally valued Commercial Paper, which was sold to qualified investors with a maturity of 321 days and with the ISIN Code of TRFZORN62126, was made as of today.

The ninth coupon payment, amounting to TL 389,928.77, on the TL 24,040,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 377 days and with the ISIN Code of TRSZORNA2035, was made as of today.

The first coupon payment amounting to TL 1,477,491.37on the TL 40,870,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN62118 was made as of today.

The first coupon payment amounting to TL 1,477,491.37on the TL 40,870,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN62118 was made as of today.

Zorlu Enerji Elektrik Üretim AŞ’s Board of Directors decided to authorize the Company’s management to carry out the necessary procedures to issue up to TL 950 mn of debt instruments in single or multiple tranches with varying maturities of maximum 5 years. The instruments will be sold to qualified investors in the domestic market and can be issued as discounted bonds and/or as coupon bonds with fixed or variable coupon payments depending on market conditions. The bonds are planned to be priced with annual spreads over the relevant benchmark government bonds and/or the Turkish Lira Reference Interest Rate (TRLIBOR), and/or priced with CPI-linked variable rates. Ak Yatırım Menkul Değerler AŞ is authorized as the financial intermediary for the issue.

The interest rate for the second coupon payment of the TL 40,870,000 nominally valued commercial paper, which was sold to qualified investors on June 11, 2020 with a maturity of 357 days and trades with the ISIN Code of TRFZORN62118, has been set as 3.5754%.

The second coupon payment amounting to TL 310,650.00 on the TL 9,500,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN62129 was made as of today.

The interest rate for the third coupon payment of TL 9,500,000 nominally valued corporate bond, which was sold to qualified investors on March 11, 2020 with a maturity of 449 days and trades with the ISIN Code of TRSZORN62129 has been set as 3.2063%

The third coupon payment of TL 691,601.99 on the TL 14,600,000 nominally valued corporate bond with the ISIN Code of TRSZORN62111 was made as of today.

The first coupon payment of TL 1,639,600 on the lease certificate with the ISIN Code of TRDYVKS62115 was made as of today.

The interest rate for the fourth coupon payment of the TL 14,600,000 nominally valued corporate bond, which was sold to qualified investors on December 3, 2019 with a maturity of 546 days and trades with the ISIN Code of TRSZORN62111, has been set as 4.7370%.

The profit sharing ratio for the second coupon payment of the lease certificate, which trades with the ISIN Code of TRDYVKS62115, has been set as 4.3090%.

Zorlu Enerji Elektrik Üretim AŞ’s Extraordinary General Meeting for the year 2020, which was held on August 18, 2020, has been registered by Bursa Trade Registry Office on August 27, 2020 (today).

The Partial Demerger via Facilitated Procedure Transaction through Associate Model decision taken at Zorlu Enerji Elektrik Üretim AŞ’s Extraordinary General Meeting for the year 2020, which was held on August 18, 2020, has been registered by the Bursa Trade Registry Office on  August 27, 2020 (today) and the establishment of Zorlu Yenilenebilir Enerji AŞ was completed.

Within the framework of the investment policies and strategies of Zorlu Group, of which Zorlu Enerji is a member, in order to restructure the ownership structure within the Group for effective oversight and management of affiliates, Zorlu Enerji Dağıtım AŞ, a wholly-owned subsidiary of Zorlu Enerji Elektrik Üretim AŞ, will acquire 100% of the shares of Zorlu Doğal Gaz Tedarik Ticaret AŞ, which operates in the field of natural gas trade & sales, from Zorlu Group companies, namely, Zorlu Holding AŞ (85%), Zorlu Dış Ticaret AŞ (5%), Linens Tekstil Ürünleri Pazarlama AŞ (5%) and Zorlu Gayrimenkul Otelcilik İnşaat Taahhüt ve  Turizm AŞ (5%) as per the Board resolution dated August 21, 2020. The transaction price is determined as TL208,500,000 via an independent valuation report prepared by the CMB-certified Ernst & Young Kurumsal Finansman Danışmanlık AŞ as of June 15, 2020. The transaction will be completed after necessary approvals are obtained from EMRA and related banks and the payment will be made by offsetting the transaction price against Zorlu Enerji's outstanding receivables from Zorlu Holding AŞ as of the share transfer date.

Since the acquisition of Zorlu Doğal Gaz Tedarik Ticaret AŞ was subject to a further evaluation by the Board following the preparation of an independent valuation report, the public announcement on the issue was postponed by a Board resolution until a final decision is made within the scope of the Article 6 of the Capital Markets Board’s Communiqué on Material Events Disclosure. The decision to postpone the announcement was taken due to uncertainty about the realization of the acquisition at the stage of the independent valuation. This disclosure is made as the reason for postponement has ended with the finalization of the decision for the acquisition transaction.

The second coupon payment amounting to TL 3,830,303.07 on the TL 102,400,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN22112 was made as of today.

The interest rate for the third coupon payment of the TL 102,420,000 nominally valued commercial paper, which was sold to qualified investors on February 19, 2020 with a maturity of 357 days and trades with the ISIN Code of TRFZORN22112, has been set as 3.7398%.

The fourth coupon payment amounting to TL 137,757.62 on the TL 9,830,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNA2014 was made as of today.

Zorlu Jeotermal Enerji Elektrik Üretim AŞ, a wholly-owned subsidiary of Zorlu Enerji, won the tender for geothermal resource exploration permits held by the Ağrı Special Provincial Administration. The Company offered to pay TL 175,000 + VAT for the permit numbered AR:30 and TL 155,000 + VAT for the permit numbered AR:31. The term of the exploration permits is 3 years.

The eight coupon payment, amounting to TL 377,740.50, on the TL 24,040,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 377 days and with the ISIN Code of TRSZORNA2035, was made as of today.

The generation license of Zorlu Enerji’s Yalova Natural Gas Cogeneration Power Plant, which is located in Yalova with an installed capacity of 15.93 MW, has expired. No application was made to EMRA to extend the term of the license and the license has been terminated.

Within the scope of the Capital Markets Board’s approval, Zorlu Enerji completed the sale of a TL 40,000,000 of management based lease certificate with a maturity of 180 days to domestic qualified investors on August 6, 2020.

In its periodic review, JCR-Eurasia Rating has assessed Zorlu Enerji’s consolidated structure and existing and planned corporate bond issuances as "Investment Grade" and affirmed the Company’s National Long-term Credit Rating as “BBB+ (Trk)” and the outlook for the said ratings as “Stable” as of July 30, 2020. The Agency has evaluated the Company’s Long-Term International Foreign Currency and Local Currency Ratings and outlook as “B/Negative”.

The third coupon payment amounting to TL 2,931,012.04 on the TL 54,680,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNE2010 was made as of today.

The interest rate for the fourth coupon payment of the TL 54,680,000 nominally valued commercial paper, which was sold to qualified investors on October 31, 2019 with a maturity of 358 days and trades with the ISIN Code of TRFZORNE2010, has been set as 5.0069%.

Pursuant to our material event disclosure dated 11.06.2020, Zorlu Enerji Elektrik Üretim AŞ has founded ZES B.V. in the Netherlands with a 100% shareholding. The company was established with an initial capital of € 30,000.

The fourth coupon payment amounting to TL 1,818,266.44 on the TL 24,310,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN12116 was made as of today.

The interest rate for the fifth coupon payment of TL 24,310,000 nominally valued corporate bond, which was sold to qualified investors on July 24, 2019 with a maturity of 546 days and trades with the ISIN Code of TRSZORN12116, has been set as 7.4795%.

Pursuant to the Article 4.2.8 of the Capital Markets Board’s Communiqué on Corporate Governance, Zorlu Enerji has renewed its existing Directors and Officers Liability Policy for one year. The annual insurance limit of the policy does not exceed 25% of the Company’s share capital.

The third coupon payment amounting to TL 142,200.78 on the TL 9,830,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNA2014 was made as of today.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 42,730,000 corporate bond with floating coupon payments with a maturity of 482 days to domestic qualified investors on July 17, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 47,240,000 commercial paper with fixed coupon payments with a maturity of 321 days to domestic qualified investors on July 17, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 30,000,000 discounted commercial paper with a maturity of 174 days to domestic qualified investors on July 17, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji Elektrik Üretim AŞ’s Extraordinary General Meeting will be held on August 18, 2020 at 2:00 pm at the address of Büyükdere Cad. No: 199 Levent 199 34394 Şişli/Istanbul to discuss the following agenda items.

Click here for the Agenda.

The seventh coupon payment, amounting to TL 389,928.78, on the TL 24,040,000 nominally valued Corporate Bond, which was sold to qualified investors with a maturity of 377 days and with the ISIN Code of TRSZORNA2035, was made as of today.

Pursuant to our material event disclosures dated  03.04.2020, 10.04.2020, 15.04.2020 and 05.06.2020, the Capital Markets Board had approved Zorlu Enerji’s application for the approval of the Announcement Document prepared within the scope of the Board decisions for “Partial Demerger via Facilitated Procedure Transaction through Associate Model” dated 03.04.2020 and 05.06.2020.

Zorlu Enerji has announced on March 13, 2020 that the Capital Markets Board had approved the Company’s application to issue lease certificates which will have a size of up to TL 450 mn and varying maturities between 1-60 months and will be issued in the form of a private placement or sale to qualified investors without public offering.

Within this scope, the Company completed the sale of a TL 80,000,000 lease certificate with fixed coupon payments with a maturity of 120 days to domestic qualified investors on June 25, 2020.

The third coupon payment amounting to TL 637,708.26 on the TL 12,180,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN12124 was made as of today.

The third coupon payment amounting to TL 922,530.29 on the TL 17,620,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN92016 was made as of today.

The second coupon payment amounting to TL 137,757.62 on the TL 9,830,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNA2014 was made as of today.

The interest rate for the fourth coupon payment of TL 12,180,000 nominally valued corporate bond, which was sold to qualified investors on September 20, 2019 with a maturity of 488 days and trades with the ISIN Code of TRSZORN12124, has been set as 5.2357%

The second coupon payment amounting to TL 80,202.60 on the TL 1,800,000 nominally valued Corporate Bond with the ISIN Code of TRSZORNA2027 was made as of today.

Zorlu Enerji Elektrik Üretim AŞ’s Board of Directors decided to set up a new company titled "ZES B.V." in order to expand the operations for the sale, installation and operation of electric vehicle charging stations, which are currently undertaken by its subsidiaries in Turkey, to the EU and neighboring countries. ZES B.V. will be established in the Netherlands with a 100% shareholding of Zorlu Enerji and initial capital of € 30,000.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 40,870,000 commercial paper with floating coupon payments with a maturity of 357 days to domestic qualified investors on June 11, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

 

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 31,540,000 discounted commercial paper with a maturity of 288 days to domestic qualified investors on June 11, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 31,400,000 discounted commercial paper with a maturity of 134 days to domestic qualified investors on June 11, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Commercial Paper with the ISIN Code of TRFZORN62027 was reedemed as of today (June 11, 2020) with the completion of the principal payment of TL 43,530,000.

Commercial Paper with the ISIN Code of TRFZORN62035 was reedemed as of today (June 11, 2020) with the completion of the principal payment of TL 94,330,000.

The sixth coupon payment amounting to TL 377,740.50 on the TL 24,040,000 nominally valued Corporate Bond with the ISIN Code of TRSZORNA2035 was made as of today.

Commercial Paper with the ISIN Code of TRFZORN62019 was reedemed as of today (June 11, 2020) with the completion of the seventh coupon payment amounting TL 355,820.73 and principal payment of TL 17,670,000.

The first coupon payment amounting to TL 355,281.00 on the TL 9,500,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN62129 was made as of today.

The interest rate for the second coupon payment of TL 9,500,000 nominally valued corporate bond, which was sold to qualified investors on March 11, 2020 with a maturity of 449 days and trades with the ISIN Code of TRSZORN62129 has been set as 3.2700%

Pursuant to our material event disclosure dated 10.04.2020, regarding Zorlu Enerji’s application for “Partial Demerger via Facilitated Procedure Transaction through Associate Model”, which is currently under the review of the Capital Markets Board; the Company’s Board of Directors decided to extend the date of the Extraordinary General Meeting, which was to be held for the approval of the Demerger Plan and Demerger Report by 30 June 2020 the latest until the end of the period (31 August 2020) stipulated in the Capital Market Law. Accordingly, decision was made to accept the Announcement Document, the Demerger Report and the Demerger Plan and submit these to the approval of the CMB.

The second coupon payment amounting to TL 691,601.99 on the TL 14,600,000 nominally valued corporate bond with the ISIN Code of TRSZORN62111 was made as of today.

Zorlu Enerji has announced on March 13, 2020 that the Capital Markets Board had approved the Company’s application to issue lease certificates which will have a size of up to TL 450 mn and varying maturities between 1-60 months and will be issued in the form of a private placement or sale to qualified investors without public offering.

Within this scope, the Company completed the sale of a TL 50,000,000 lease certificate with floating coupon payments with a maturity of 364 days to domestic qualified investors on June 3, 2020.

The interest rate for the third coupon payment of the TL 14,600,000 nominally valued corporate bond, which was sold to qualified investors on December 3, 2019 with a maturity of 546 days and trades with the ISIN Code of TRSZORN62111, has been set as 4.7370%.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 78,000,000 discounted commercial paper with a maturity of 124 days to domestic qualified investors on May 29, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 53,150,000 discounted commercial paper with a maturity of 201 days to domestic qualified investors on May 29, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

The second coupon payment amounting to TL 252,747.10 on the TL 5,650,000 nominally valued Commercial Paper with the ISIN Code of TRSZORNA2019 was made as of today.

The first coupon payment amounting to TL 3,830,303.11on the TL 102,400,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN22112 was made as of today.

The interest rate for the second coupon payment of the TL 102,420,000 nominally valued commercial paper, which was sold to qualified investors on February 19, 2020 with a maturity of 357 days and trades with the ISIN Code of TRFZORN22112, has been set as 3.7398%.

The first coupon payment amounting to TL 137,757.62 on the TL 9,830,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNA2014 was made as of today.

The fifth coupon payment amounting to TL 389,928.78 on the TL 24,040,000 nominally valued Corporate Bond with the ISIN Code of TRSZORNA2035 was made as of today.

Pursuant to our material event disclosure dated 06.08.2019, the necessary approvals have been obtained for the transfer of Zorlu Enerji Elektrik Üretim AŞ’s entire stake with a nominal value of 9,970 PKR (Pakistan Rupee) in Zorlu Solar Pakistan Limited, which is a 99.7% owned subsidiary of the Company, to its fully-owned subsidiary, Zorlu Enerji Asia Holding Limited and the process for the share transfer has been initiated.

The sixth coupon payment amounting to TL 315,162.08 on the TL 17,670,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN62019 was made as of today.

The interest rate for the second coupon payment of TL 1,800,000 nominally valued corporate bond, which was sold to qualified investors on June 14, 2019 with a maturity of 551 days and trades with the ISIN Code of TRSZORNA2027, has been set as 4.4557%

The second coupon payment amounting to TL 2,931,012.04 on the TL 54,680,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNE2010 was made as of today.

The interest rate for the third coupon payment of the TL 54,680,000 nominally valued commercial paper, which was sold to qualified investors on October 31, 2019 with a maturity of 358 days and trades with the ISIN Code of TRFZORNE2010, has been set as 5.3603%.

Zorlu Enerji Elektrik Üretim AŞ’s Annual General Meeting for the year 2019, which was held on April 22, 2020, has been registered by Bursa Trade Registry Office on April 28, 2020 (today).

The third coupon payment amounting to TL 1,818,266.44 on the TL 24,310,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN12116 was made as of today.

At its meeting held on 22.04.2020; the Company’s Board of Directors resolved to elect Mr. Zeki Zorlu as the Chairman of the Board, Mr. Bekir Ağırdır as the Vice Chairman and Mr. Ahmet Nazif Zorlu, Mr. Olgun Zorlu, Mrs. Selen Zorlu Melik, Mr. Mehmet Emre Zorlu, Mr. Bekir Cem Köksal, Mr. Elmas Melih Araz and Ms. Ayşegül İldeniz as the other members of the Board.

At its meeting on 22.04.2020, the Company’s Board of Directors resolved to;

1. Appoint Mr. Bekir Ağırdır, Independent Member of the Board, as the Chairman of the Corporate Governance Committee and Mr. Mehmet Emre Zorlu, Board Member, and Ms. Başak Dalga, Investor Relations Manager, as the Committee members,

2. Appoint Mr. Elmas Melih Araz, Independent Member of the Board, as the Chairman of the Audit Committee and Mr. Bekir Ağırdır, Independent Member of the Board, as the Committee Member,

3. Appoint Mr. Elmas Melih Araz, Independent Member of the Board, as the Chairman of the Early Detection of Risk Committee and Mr. Olgun Zorlu, Board Member, as the Committee Member.

Pursuant to our material event disclosure dated 24.03.2020, Board of Directors’ proposal regarding the selection of KPMG Bağımsız Denetim ve SMMM AŞ as the independent audit firm has been accepted at the 2019 Ordinary General Assembly Meeting.

Pursuant to our material event disclosure dated 24.03.2020, Board of Directors’ resolution that there could be no profit distribution due to  net loss recorded in 2019 has been submitted to the information of shareholders at the Company’s 2019 Ordinary General Assembly Meeting.

Zorlu Enerji Elektrik Üretim AŞ’s Annual General Meeting for the year 2019 was held on April 22, 2020 at 2:00 pm at the address of Levent 199 Büyükdere Cad. No: 199  Floor: -1 34394 Şişli/Istanbul.

Click here for the Minutes of the Meeting.

Click here for the List of Attendees.

The interest rate for the fourth coupon payment of TL 24,310,000 nominally valued corporate bond, which was sold to qualified investors on July 24, 2019 with a maturity of 546 days and trades with the ISIN Code of TRSZORN12116, has been set as 7.4795%.

Lease certificate with the ISIN Code of TRDKTLM42012 was reedemed as of today (April 17, 2020) with the completion of the eigth coupon payment amounting TL 7,619,207.70 and principal payment of TL 200,100,000.

Commercial Paper with the ISIN Code of TRFZORN42045 was redeemed as of today (April 17, 2020) with the completion of the principal payment of TL 25,850,000.

Commercial Paper with the ISIN Code of TRFZORN42037 was redeemed as of today (April 17, 2020) with the completion of the principal payment of TL 55,850,000.

Commercial Paper with the ISIN Code of TRFZORN42029 was reedemed as of today (April 17, 2020) with the completion of the fourth coupon payment amounting TL 113,204.87 and principal payment of TL 5,270,000.

Commercial Paper with the ISIN Code of TRFZORN42011 was reedemed as of today (April 17, 2020) with the completion of the fourth coupon payment amounting TL 202,565.83 and principal payment of TL 9,430,000.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

 

Within this scope, the Company completed the sale of a TL 9,830,000 corporate bond with fixed coupon payments with a maturity of 243 days to domestic qualified investors on April 17, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

 

Within this scope, the Company completed the sale of a TL 83,190,000 discounted commercial paper with a maturity of 91 days to domestic qualified investors on April 17, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

The term of the pre-license for Alaşehir III Geothermal Power Plant Project, which is planned to be developed in Alaşehir, Manisa by Zorlu Jeotermal Enerji Elektrik Üretimi AŞ, a 100% owned subsidiary of Zorlu Enerji Elektrik Üretim AŞ, has been extended until 24.03.2021 with the approval of EMRA.

Pursuant to our material event disclosure dated 03.04.2020,  within the scope of the Company’s Board decision regarding “Partial Demerger via Facilitated Procedure Transaction through Associate Model”, the announcement that the Demerger Report, the Demerger Plan, the Financial Statements and the Annual Reports for the last 3 years are available for the review of shareholders at the Company headquarters as of April 10, 2020 is published in the Turkish Trade Registry Gazette’s issue dated April 15, 2020 and numbered 10059 as per the Article 171 of the Turkish Commercial Code.

The Demerger Report, the Demerger Plan, the Financial Statements and the Annual Reports for the last 3 years were previously announced to the public and they can be accessed at the Company’s corporate website at www.zorluenerji.com.tr.

Pursuant to our material event disclosure regarding “Partial Demerger via Facilitated Procedure Transaction through Associate Model” dated 03.04.2020, Zorlu Enerji submitted its application to the Capital Markets Board for the approval of the Announcement Document together with other required documents as of today.

 

Click here for the Announcement Document and other documents.

 

The fourth coupon payment amounting to TL 377,740.50 on the TL 24,040,000 nominally valued Corporate Bond with the ISIN Code of TRSZORNA2035 was made as of today.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 9,820,000 discounted commercial paper with a maturity of 100 days to domestic qualified investors on April 8, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

The fifth coupon payment amounting to TL 325,322.34 on the TL 17,670,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN62019 was made as of today.

With the Company's Board of Directors’ resolutions dated April 3, 2020,

- Zorlu Enerji Elektrik Üretim AŞ (Zorlu Enerji or Company) will transfer its 100% shares in its wholly-owned subsidiaries, Zorlu Jeotermal Enerji Elektrik Üretimi AŞ, Zorlu Doğal Elektrik Üretimi AŞ and Rotor Elektrik Üretim AŞ via partial demerger to a new joint-stock company titled Zorlu Yenilenebilir Enerji AŞ to be established as a 100% subsidiary of Zorlu Enerji with a capital of 1,045,000.000 TL in order to establish a more effective and focused structure in renewable energy activities and to evaluate the public offering of the shares of the new company.

- Partial demerger will be realized according to the paragraph 1-b of the Article 159 of the Turkish Commercial Code (“TCC”) No. 6102, the provisions relating to demerger via facilitated procedure of the Capital Markets Board's (“CMB”) Communique on Merger and Demerger (II-23.2) (“Communique”) and paragraph 3-b of the Article 19 and Article 20 of the Corporate Tax Law No. 5520.

- All of the shares representing the capital of the new company to be established will be acquired by Zorlu Enerji Elektrik Üretim AŞ.

- The partial demerger transaction will be executed on the basis of Zorlu Enerji’s financial statements dated 31.12.2019.

- Since the partial demerger will be performed via facilitated procedure in accordance with the Article 17 of the Communiqué, independent audit report and opinion of expert institution will not be taken in accordance with the second paragraph of the Article 17.

- In accordance with the paragraph e of the Article 12 of the CMB’s Communique on Common Principles Regarding Significant Transactions and the Retirement Right (II-23.1), the transaction will not trigger right to exit for the Company’s shareholders.

- The accepted Demerger Plan, the draft Articles of Association of the new company, the Demerger Report and the Announcement Document shall be submitted to the approval of CMB.

- The Demerger Report, the Demerger Plan and the financial statements for the last 3 years will be submitted to the review of the Company’s shareholders in accordance with the TCC and CMB regulations and the relevant legislation.

- Necessary applications will be made to the relevant authorities for the partial demerger transaction and Mr. Olgun Zorlu will be authorized to represent and bind the Company with his individual signature to do all kinds of work and transactions to be carried out within this scope, to make the necessary applications and to sign the relevant documents on behalf of the Company.

The interest rate for the second coupon payment of the TL 5,650,000 nominally valued commercial paper, which was sold to qualified investors on May 31, 2019 with a maturity of 565 days and trades with the ISIN Code of TRSZORNA2019, has been set as 4.4734%.

Pursuant to our material event disclosure dated 05.12.2019, the term of the pre-license for Kızıldere IV Geothermal Power Plant Project, which is planned to be developed in Denizli and Aydın by Zorlu Doğal Elektrik Üretimi AŞ, a 100% owned subsidiary of Zorlu Enerji Elektrik Üretim AŞ, has been extended from 54 months to 72 months with the approval of EMRA.

The precautions taken by our Company against the Coronavirus (COVID-19) pandemic, which is also effective in our country are presented below for the information of the public: 

 

1.       All employees were informed about the epidemic and the necessary precautions.

2.       Disinfection processes have been completed at all of our sites and offices in Turkey and abroad, and the work is repeated periodically.

3.       International travels and participation in collective events are prohibited and all meetings are held through online platforms.

4.       Employees vulnerable to coronavirus exposure are working remotely from home while other employees are coming to work in rotation.

 

Currently, all our electricity power plants and sites are active and our electricity and gas distribution operations continue without any interruption.

At its meeting on 24 March 2020, the Company’s Board of Directors made the following decision.

Taking into consideration the assessments of the Audit Committee dated 24 March 2020, the Company's Board resolved to nominate KPMG Bağımsız Denetim ve SMMM AŞ as the independent auditor for auditing the Company’s financial reports for the fiscal year 2020 in accordance with the Turkish Commercial Code, the Capital Market Law and related regulations and for carrying out the other duties required under these laws and to submit this selection to the approval of shareholders at the Company’s 2019 Annual General Meeting.

At its meeting on 24 March 2020, the Company’s Board of Directors made the following decision.

Zorlu Enerji Elektrik Üretim AŞ recorded TL 157,926 thousands of net loss in its consolidated financial statements prepared in accordance with the Turkish Accounting Standards/Turkish Financial Reporting Standards as per the Capital Market Law and related Communiqués and TL 505,394 thousands of net loss in its statutory financial statements prepared as per the Turkish Commercial Code and Tax Procedure Law. In view of the Company’s CMB and statutory financial statements, it is determined that no profit distribution could be made for the year 2019 due to losses recorded and this matter will be presented to the information of shareholders at the Company’s 2019 Annual General Meeting.

Click here for the Profit Distribution Table.

 

Zorlu Enerji Elektrik Üretim AŞ’s Annual General Meeting for the year 2019 will be held on 22 April 2020 at 2:00 pm at the address of Levent 199 Büyükdere Cad. No: 199 Floor: -1 34394 Şişli/Istanbul to discuss the following agenda items.

Click here for the Agenda. 

Click here for the Invitation.

 

The second coupon payment amounting to TL 637,708.26 on the TL 12,180,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN12124 was made as of today.

The second coupon payment amounting to TL 922,530.30 on the TL 17,620,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN92016 was made as of today.

The interest rate for the third coupon payment of TL 12,180,000 nominally valued corporate bond, which was sold to qualified investors on September 20, 2019 with a maturity of 488 days and trades with the ISIN Code of TRSZORN12124, has been set as 5.2357%

Lease certificate with the ISIN Code of TRDTFBV32015 was reedemed as of today (March 17, 2020) with the completion of the twentieth coupon payment amounting TL 3,486,840.00 and principal payment of TL 100,000,000.

Pursuant to our material event disclosures dated 18.02.2020 and 20.02.2020, Capital Markets Board had approved Zorlu Enerji’s application to issue lease certificates, which will have a size of up to TL 450 mn and varying maturities between 1-60 months and will be issued in the form of a private placement or sale to qualified investors without public offering.

Pursuant to our material event disclosures dated 26.02.2020, 27.02.2020, 03.03.2020 and 09.03.2020; Ministry of Trade has approved Zorlu Enerji’s application to obtain the required permission to amend the sixth article of its Articles of Association titled “The Capital of the Company” for extending the validity period of its registered capital ceiling for 5 years, involving the 2020-2024 period.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 9,500,000 corporate bond with floating coupon payments with a maturity of 449 days to domestic qualified investors on March 11, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on March 5, 2020 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 800 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 39,100,000 commercial paper with floating coupon payments with a maturity of 226 days to domestic qualified investors on March 11, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Commercial Paper with the ISIN Code of TRFZORN32012 was reedemed as of today (March 11, 2019) with the completion of the principal payment of TL 68,810,000.

Pursuant to our material event disclosure dated 26.02.2020, 27.02.2020 and 03.03.2020, Zorlu Enerji applied to the Ministry of Trade to obtain the required permission to amend the sixth article of its Articles of Association titled “The Capital of the Company” for extending the validity period of its registered capital ceiling for 5 years, involving the 2020-2024 period.

The third coupon payment amounting to TL 389,928.79 on the TL 24,040,000 nominally valued Corporate Bond with the ISIN Code of TRSZORNA2035 was made as of today.

Pursuant to our material event disclosure dated 06.02.2020, Zorlu Enerji has been notified today that Capital Markets Board had approved Zorlu Enerji’s application to issue a debt instrument.

The first coupon payment amounting to TL 691,602.00 on the TL 14,600,000 nominally valued corporate bond with the ISIN Code of TRSZORN62111 was made as of today.

The fourth coupon payment amounting to TL 315,162.09 on the TL 17,670,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN62019 was made as of today.

The interest rate for the second coupon payment of the TL 14,600,000 nominally valued corporate bond, which was sold to qualified investors on December 3, 2019 with a maturity of 546 days and trades with the ISIN Code of TRSZORN62111, has been set as 4.7370%.

Pursuant to our material event disclosures dated 26.02.2020 and 27.02.2020; Capital Markets Board has approved Zorlu Enerji’s application to obtain the required permission to amend the sixth article of its Articles of Association titled “The Capital of the Company” for extending the validity period of its registered capital ceiling for 5 years, involving the 2020-2024 period.

Pursuant to our material event disclosure dated 10.11.2017; the pre-license of Zorlu Enerji Pakistan Ltd. (“Zorlu Enerji Pakistan”), Zorlu Enerji’s wholly-owned subsidiary, which was obtained from Pakistan Alternative Energy Development Board for a 30 MW hybrid solar power plant project to be developed in the existing Jhimpir site located in Sindh, Pakistan, has been cancelled due to the amendments to be made in the Pakistan Renewable Energy Law. Hydrid power plant projects are expected to be reevaluated within the scope of the amended Law.

Pursuant to our material event disclosure dated 18.02.2020, EMRA has notified the Company with its letter of opinion for the planned sukuk issue and it is stated that the issue is compatible with the Electricity Market Law.

The third coupon payment amounting to TL 244,912.71 on the TL 5,270,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN42029 was made as of today.

The third coupon payment amounting to TL 438,240.39 on the TL 9,430,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN42011 was made as of today

Pursuant to our material event disclosure dated 26.02.2020, Zorlu Enerji applied to the Capital Markets Board to obtain the required permission to amend the sixth article of its Articles of Association titled “The Capital of the Company” for extending the validity period of its registered capital ceiling for 5 years, involving the 2020-2024 period.

In accordance with the Communiqué on Authorised Capital System of the Capital Markets Board (the Communiqué), Zorlu Enerji (the Company) decided to amend the sixth article of its Articles of Association titled “The Capital of the Company” for extending the validity period of its registered capital ceiling for 5 years, involving the 2020-2024 period. Within this scope, the Company decided to apply to the Capital Markets Board to obtain the required permission and submit the afore-mentioned amendment for the approval of shareholders in the first General Assembly to be held.

The interest rate for the fourth coupon payment of the TL 9,430,000 nominally valued commercial paper, which was sold to qualified investors on May 31, 2019 with a maturity of 322 days and trades with the ISIN Code of TRFZORN42011, has been set as 2.1481%.

The interest rate for the fourth coupon payment of the TL 5,270,000 nominally valued commercial paper, which was sold to qualified investors on June 14, 2019 with a maturity of 308 days and trades with the ISIN Code of TRFZORN42029, has been set as 2.1481%.

Pursuant to our material event disclosure dated 11.02.2020, the branch of Zorlu Enerji in Kazakhstan is opened and registered with the title of the “Branch of the Joint Stock Company “Zorlu Enerji Elektrik Uretim Anonim Shirketi””.

Zorlu Enerji has announced on September 9, 2019 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 600 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 102,420,000 discounted commercial paper with a maturity of 357 days to domestic qualified investors on February 21, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Zorlu Enerji has announced on September 9, 2019 that the Capital Markets Board had approved the Company’s application to issue debt instruments up to a nominal value of TL 600 mn and with a maximum maturity of 5 years for sale in single or multiple tranches to qualified investors in the domestic market.

Within this scope, the Company completed the sale of a TL 44,970,000 discounted commercial paper with a maturity of 210 days to domestic qualified investors on February 21, 2020. Ak Yatırım Menkul Değerler AŞ has acted as the financial intermediary for the issue.

Commercial Paper with the ISIN Code of TRFZORN22013 was reedemed as of today (February 21, 2020) with the completion of the fourth coupon payment amounting TL 232,623.18 and principal payment of TL 5,090,000.

Commercial Paper with the ISIN Code of TRFZORN22021 was reedemed as of today (February 21, 2020) with the completion of the seventh coupon payment amounting TL 1,943,639.40 and principal payment of TL 80,160,000.

Pursuant to our material event disclosure dated 18.02.2020, Zorlu Enerji submitted its application to the Capital Markets Board for its planned issuance of management agreement based lease certificates, which will have a size of up to TL 450 mn and varying maturities between 1-60 months and will be issued in the form of a private placement or sale to qualified investors without public offering.

At its meeting on February 18, 2020, , the Board of Directors of Zorlu Enerji Elektrik Üretim AŞ (the Company) resolved, in accordance with the Capital Markets Law and the Communiqué On Lease Certificates of Capital Markets Board (the Communiqué), to participate as a Fund User / Originator in the issuance of management agreement based lease certificates according to the Articles 4/1b and 6 of the Communiqué, which will have a size of up to TL 450 mn and varying maturities between 1-60 months and will be issued in the form of a private placement or sale to qualified investors in the domestic market without public offering. Yatırım Varlık Kiralama AŞ will be the issuer and Türkiye Sınai Kalkınma Bankası AŞ will act as  the financial intermediary for the issue as per the agreement between Yatırım Varlık Kiralama AŞ and Türkiye Sınai Kalkınma Bankası AŞ.

The application for the afore-mentioned issuance has been submitted to EMRA. Necessary disclosure will be made to public when the application is submitted to the Capital Markets Board.

Zorlu Enerji (the Company) has decided to open a branch in Kazakhstan, titled the Branch of the Joint Stock Company “Zorlu Enerji Elektrik Uretim Anonim Shirketi” in the Republic of Kazakhstan, to invest in the areas of solar energy, renewable energy and other areas of energy, to carry out EPC activities and conclude EPC contracts and to operate in all the fields of operation of the Company in this country.

Pursuant to our material event disclosure dated 30.01.2020, Zorlu Enerji submitted its applications to the Capital Markets Board and Borsa Istanbul AŞ for its planned corporate bond issuance as of today (06.02.2020).

The second coupon payment amounting to TL 389,928.79 on the TL 24,040,000 nominally valued Corporate Bond with the ISIN Code of TRSZORNA2035 was made as of today.

Pursuant to our material event disclosures dated 30.10.2018, 23.12.2019 and 29.01.2020, Zorlu Enerji completed the sale of its 100% shares in its wholly-owned subsidiary Zorlu Rüzgar Enerjisi Üretimi AŞ (Zorlu Rüzgar) to İmbat Enerji AŞ, a wholly owned subsidiary of Akfen Yenilenebilir Enerji AŞ. The sale was realized at an enterprise value of US$105 mn, which corresponds to an equity value of US$43,241,791 after accounting for Zorlu Rüzgar’s debt.

The third coupon payment amounting to TL 325,322.34 on the TL 17,670,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN62019 was made as of today.

Energy Market Regulatory Authority (EMRA) has granted a “Supply License” to Zorlu Trade Elektrik Toptan Satış AŞ, a wholly owned subsidiary of Zorlu Enerji, to engage in trade of electricity and/or electricity capacity within the scope of Electricity Market Law and relevant legislation. The license will be valid for 20 years starting from 23.01.2020.

The first coupon payment amounting to TL 2,931,012.02 on the TL 54,680,000 nominally valued Commercial Paper with the ISIN Code of TRFZORNE2010 was made on January 30, 2020.

Zorlu Enerji Elektrik Üretim AŞ’s Board of Directors decided to authorize the Company’s management to carry out the necessary procedures to issue up to TL 800 mn of debt instruments in single or multiple tranches with varying maturities of maximum 5 years. The instruments will be sold to qualified investors in the domestic market and can be issued as discounted bonds and/or as coupon bonds with fixed or variable coupon payments depending on market conditions. The bonds are planned to be priced with annual spreads over the relevant benchmark government bonds and/or the Turkish Lira Reference Interest Rate (TRLIBOR), and/or priced with CPI-linked variable rates. Ak Yatırım Menkul Değerler AŞ is authorized as the financial intermediary for the issue.

The interest rate for the second coupon payment of the TL 54,680,000 nominally valued commercial paper, which was sold to qualified investors on October 31, 2019 with a maturity of 358 days and trades with the ISIN Code of TRFZORNE2010, has been set as 5.3603%.

Pursuant to our material event disclosures dated 30.10.2018 and 23.12.2019, the necessary approvals have been obtained from Energy Market Regulatory Authority and Competition Authority for the sale of the Company’s 100% shares in its wholly owned subsidiary Zorlu Rüzgar Enerjisi Üretimi AŞ to İmbat Enerji AŞ, a wholly owned subsidiary of Akfen Yenilenebilir Enerji AŞ. Necessary disclosure will be made to the public when share transfer is completed.

The sixth coupon payment amounting to TL 1,943,639.41 on the TL 80,160,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN22021 was made as of today.

The second coupon payment amounting to TL 1,818,266.44 on the TL 24,310,000 nominally valued Corporate Bond with the ISIN Code of TRSZORN12116 was made as of today.

Pursuant to our material event disclosure dated 04.04.2019, EMRA has granted a pre-license to our Company for Tekkehamam II Geothermal Power Plant Project, which is planned to be developed in Sarayköy, Denizli with an installed capacity of 35 MW. The pre-license will be valid for 30 months.

The interest rate for the third coupon payment of TL 24,310,000 nominally valued corporate bond, which was sold to qualified investors on July 24, 2019 with a maturity of 546 days and trades with the ISIN Code of TRSZORN12116, has been set as 7.4795%.

The seventh coupon payment of TL 10,150,672.80 on the TL 200,100,000 nominally valued lease certificate (ISIN Code: TRDKTLM42012) was made as of today.

The profit sharing ratio for the eighth coupon payment of the TL 200,100,000 nominally valued lease certificate, which was sold to qualified investors on April 20, 2018 with a maturity of 728 days and trades with the ISIN Code of TRDKTLM42012, has been set as 3.8077%.

The first coupon payment amounting to TL 389,928.79 on the TL 24,040,000 nominally valued Corporate Bond with the ISIN Code of TRSZORNA2035 was made as of today.

The second coupon payment amounting to TL 315,162.09 on the TL 17,670,000 nominally valued Commercial Paper with the ISIN Code of TRFZORN62019 was made as of today.