The Legal 500

Akol Avukatlik Bürosu’s comprehensive banking and finance practice represents clients including UBS, Deutsche Bank and JPMorgan, but particularly comes into its own in capital markets work. It recently acted for construction company Yuksel Insaat AS in a $200m senior notes high-yield bond offering. It also represented Emlak Konut REIT as issuer in its multimillion-euro IPO. Meltum Akol is recommended for capital markets work.

Banking and finance continues to be a core focus of ‘strong performer’ Hergüner Bilgen Özeke. With its 15-lawyer team, it is ‘diligent in bringing unknown issues of local law out in to the open’. Hakki Gedik advised Bank of America Merrill Lynch and Goldman Sachs as lead arrangers of a €750m financing for the acquisition of Ontex International’s Turkish operations by Goldman Sachs Capital Partners and Texas Pacific Group. Other clients include EBRD, IFC, Sompo Japan Insurance and Standard Bank. Gökhan Eraksoy is also recommended.

Paksoy’s banking, finance and capital markets team is underpinned by expert tax and regulatory lawyers. It has a strong track record in securities, particularly IPOs and bond offerings, and has been advising on Islamic finance. The group acted for Citigroup and Liquidity House as lead managers in Kuveyt Türk’s direct sukuk issuance, the first such issuance by a Turkish bank. It also advised an international banking consortium on state-owned Vakifbank’s direct bond issuance. Capital markets expert Ömer Çollak and banking and finance specialist Togan Turan are recommended.

Pekin & Bayar Law Firm has recently acted on numerous multimillion-dollar loan facilities, primarily acting for the finance parties. It advised Rabobank and Finansbank as lenders on a supplemental agreement for the inclusion of new loan facilities and an increase of the original facility amount by $1bn for the borrower, Ojer Telekomunikasyon AS. Other clients include the National Bank of Greece, and Akbank. Selin Bayar is the main contact.

Pekin & Pekin enjoys ‘a good reputation’. It has acted for lenders or arrangers on a number of multimillion-dollar financings, and handled some borrower work. Islamic finance is a developing practice. Group head Ahmed Pekin and Sezin Okkan Çaliskan are recommended.

Verdi & Yazici’s widely admired team advises financial institutions on banking and finance, and acts for issuers and underwriters on capital markets matters. Regulatory expert A Can Verdí and Hakan Yazici are recommended.

ASC Law Office advises on general banking matters, corporate and other finance and securities. The key figures are Murat Aksu, whose expertise includes trade finance, secured loans and acquisition finance, and Okan Beygo, who has advised Acibadem Group on several facility transactions.

Bezen & Partners provides ‘the level of client service one would expect from an international firm’, and has ‘a strong finance team’. The team advised the lenders on a $1bn secured financing to restructure an energy group’s debts, and advised a German bank on FOREX structure and transactions under Turkish law. Yesim Bezen is ‘particularly strong’, and Serdar Bezen is also recommended.

Birsel Law Offices’ ‘extremely responsive, collegiate and professional’ group recently acted on a number of billion-dollar financings for borrowers in the telecoms sector, and advised a bank on a multimillion-Euro credit facility provided to Istanbul Metropolitan Municipality. Begum Ozaydin is ‘reliable and commercial’, and gives ‘good and practical advice’. Senior associate Ayse Türkçü is also recommended.

ELO | Eryürekli Law Office’s Murat Eryürekli and Mustafa Ünal are ‘solutions-oriented and focused on clients’ needs in their area of specialisation’. This capital markets boutique recently advised brokers Yatirim Menkul Degerler and Destek Degerler on FOREX business structures and licensing. Other clients include ING Bank, HSBC, UniCredit Menkul and Citibank.

Characterised by ‘fast feedback and deep knowledge’, Güner Law Office has recently acted as Turkish counsel to international financial institutions on multimillion-dollar finance transactions including project finance, Islamic banking, corporate, asset, and trade finance. Ece Güner has ‘perfect vision and perspective; always a facilitator’.

YukselKarkinKucuk acts for lenders, borrowers, issuers and underwriters on financing and capital markets issuances. It advised Emaar Properties on the financing of a $2bn mixed-use development through private equity investment and syndicated finance; is advising a bank on a $300m sukuk bond issue; and another client on a possible Eurobonds issue. Bank of America, Barclays, EBRD and UniCredit are clients. Practice head Muharrem Küçük is recommended.

Balcioglu Selcuk Akman is ‘very client-oriented and excellent value for money’. It acts for borrowers, lenders, arrangers and agents in financing transactions, and recently represented Tiryaki Agro as borrower of a $300m syndicated loan facility. Barlas Balcioglu shows good business acumen. In January 2012, the firm announced its new co-operation with Salans.

Bener Law Office’s four-partner team recently acted for Sekerbank on matters totalling over $250m, and for World Bank and the IFC regarding facilities totalling $110m for Turkish banks. It also acted on a number of IPOs. Other clients include Kuwait Finance House, DenizBank and Bank of America. Win Michaelsen and Gözde Esen Sakar are recommended.

Çaga & Çaga Law Firm primarily represents borrowers. Recent highlights include advising on a $162m project finance facility. It also advised clients on restructuring existing loans. Erdem Degerli and Barbaros Çaga are recommended.

Çakmak Avukatlik Bürosu’s responsive team makes ‘a valuable contribution giving Turkish law support in international financing agreements’. It has built a strong reputation in borrower-side project finance, but has made a conscious effort to grow its financial institutions client base and advised Yapi Kredi, Garanti Bank, Is Bank and Vakiflar Bank as mandated lead arrangers to structure and finance the Gebze combined-cycle gas turbine (CCGT) power plant. Mesut Çakmak is ‘certainly one of the best in his field in Turkey’. Zeynep Çakmak, Sebnem Önder and Mehtap Yildirim Öztürk are other key lawyers.

Cerrahoglu Law Firm’s banking and finance team has particular strength in capital markets work. It advised Akbank on a $500m notes issuance. Aysegül Yalçinmani is highly recommended.

Erdem & Erdem Law Office advises borrowers and lenders on financing and investments. It acted as Turkish counsel to IBDI Bank and Yes Bank regarding Çelebi Ground Handling’s investments in India. HSBC is also a client. Ercüment Erdem is recommended.

Ersoy Bilgehan Lawyers & Consultants is ‘responsive and prompt, and provides clear, succinct and to-the-point advice’. It shows ‘commercial understanding of the shipping and banking industry’, and shipping finance as well as private equity are core strengths of the practice. Gulistan Baltaci Hatay and Zihni Bilgehan are recommended.

Esin Attorney Partnership, a Member Firm of Baker & McKenzie International, a Swiss Verein has ‘the ability to foster the quality of its banking, finance and capital markets advice with the knowledge and experience in other areas of law such as corporate and litigation’. Recent instructions include a $2bn bond offering and a high-value real estate financing. Founding partner Ismail Esin is highly recommended, and associate Muhsin Keskin is ‘well experienced and results-oriented’. Melis Aritman Alp joined Aritman Yildirim Aksun Law Firm.

Gür Law Firm advises Eurohypo Aktiengesellschaft on its Turkish real estate financings, and recently acted for Fibabanka and Credit Europe regarding a $90m acquisition financing. Burcu Boso is recommended.

Umut Kolcuoglu of Kolcuoglu Demirkan is ‘particularly good’ when it comes to banking, finance and capital markets, and the team’s service is ‘excellent both in terms of quality and responsiveness’. The group advises the Association of Foreign Banks of Switzerland on operating in Turkey. Other clients include Deutsche Bank and FMS Wertmanagement.

Özel & Özel primarily acts for borrowers in financings, including secured and unsecured loans, bond offerings and syndicated loans. It recently assisted Dost Enerji with extending a €12.5m term loan facility to increase a wind farm’s capacity. Managing partner Haluk Can Özel is recommended.

Islamic finance is a key area for Somay Hukuk Bürosu, which represented the lenders in a $176m and €85m dual currency syndicated murabaha to Turkiye Finans. It also advised on Kuveyt Türk’s $100m sukuk. Sera Somay is recommended.

Esin Taboglu Yurtal and Ebru Demirhan are the main contacts at Taboglu & Demirhan Attorneys-at- Law. The group represents lenders or borrowers on syndicated loans, structured finance and acquisition finance as well as securitisations and international securities work. It also advises on regulatory compliance.

Banking and finance are founding practices at Bircanoglu Attorneys at Law. The team recently advised borrower clients including White Young Green, Alfa Wassermann and Fintrax Group on financing facilities. Erol Bircanoglu is recommended.

Cosar Avukatlik Burosu recently advised on a counter-guarantee agreement, and on a share offering. Arzu Cosar heads the team.

Cukur & Yilmaz recently advised a leading Indian bank on acquisition finance, secured finance and collateral transactions relating to an Indian conglomerate’s investments in Turkey’s textiles industry. The team represents financial institutions and borrowers. Practice head Irem Soyman and managing partner Devrim Çukur are recommended.

Dogru Law Office has been advising financial institutions on a number of capital markets projects. Founding partner Halil Dogru is recommended.

ELIG, Attorneys-at-Law remains active in this area, despite still feeling the effect of Serkan Içtem’s departure in early 2010. The firm represented the Industrial Bank of Turkey (TSKB) as borrower on a €100m credit facility agreement with CEB Bank. Gönenç Gürkaynak is the main contact.

GSI Meridian continued to expand its practice, and one notable addition was Alex Gemici, who brings vast experience having previously worked at Deustche Bank and LFC Equities. The team is advising G Capital on legislative compliance during the establishment of a $75m private equity firm in Turkey. Private equity, project and Islamic finance are key strengths. Ali Göksu is highly recommended.

IctemLegal represented joint lead managers BNP Paribas and Standard Chartered on Yuksel Insaat’s high-yield senior notes issuance. Other clients include ADM Finans International and Credit Suisse International. Serkan Içtem ‘stands out among Turkish lawyers for his understanding of international client needs and English drafting skills’.

In addition to Inal Law Office’s recognised strength in ship finance, it has also acted for a number of other borrowers on financing. It recently advised a Turkish company with respect to a €149m term loan facility. Seyma Inal is recommended.

The ‘sophisticated’ Ismen Law Firm provides ‘good response times due to the dedication of the team’. It continues to advise clients on general investment banking matters and capital markets work. Tolga Ismen is ‘a talented and experienced legal adviser’, and Arzum Günalcin is also recommended.

Moroglu Arseven strengthened its ‘very responsive’ team by recruiting Burcu Ersin as counsel; Ersin has substantial experience in private equity and venture capital and spent seven years at PwC Turkey. The practice recently acted as Turkish counsel on a multimillion-dollar gas oil stock financing. It also has an impressive track record in Capital Markets Board investigations. Seyfi Moroglu is also recommended.

Turunç’s ‘extremely responsive, professional and knowledgeable’ team acted as lender’s counsel to HSH Nordbank regarding a credit facility provided to Melike Tekstil. Kerem Turunç, a recent arrival from Cleary Gottlieb Steen & Hamilton LLP, is ‘clearly an expert on capital markets matters and his international experience is unusual in Turkey’.

Project finance sits at the core of Senguler & Senguler’s practice. Clients include AMEX and the National Bank of Abu Dhabi. Burcu Özsevinç is recommended.

Ünal Tekinalp is the pivotal figure at Tekinalp Lawyers for banking, finance and capital market work. It advises local and foreign banks.