Firms To Watch: Banking, finance and capital markets

Namlı & Kayum & Demir Attorney Partnership bolstered its capital markets practice with the arrival of Hasan Fırat Namlı in early 2021.
Özok Law Firm, which focuses on project finance, acquisition finance, structured finance as well as Islamic finance, launched in 2019.

Firms in the Spotlight Banking, finance and capital markets

LBF Partners

LBF Partners logo

Banking, finance and capital markets is one of our core practice areas. On the banking & finance side, we advise banks and other financial institutions, investors and governmental agencies in the field of banking and financial law. Our banking and finance team provides legal services for all financial transactions including, acquisition finance, term loans, syndicated …

View Profile...

Banking, finance and capital markets in Turkey

Balcioglu Selçuk Ardiyok Keki

Balcioglu Selçuk Ardiyok Keki houses a ‘very responsive and practical’ practice, ‘particularly for international finance transactions’, drawing from its association with Dentons. Headed by Barlas Balcıoğlu, the department advises domestic and international clients regarding unsecured interbank loan facilities (syndicated and bilateral), project finance, restructuring, structured trade and export finance, acquisition finance, commercial real estate finance and corporate lending transactions in the energy, real estate, hospitality and leisure, construction and infrastructure sectors. Günhan Yalçın and senior associates Ceyda Aydın and Cenk Yılgor provide further support in the team, which was further reinforced in January 2021 with the arrival of partner Burcu Boso from YBK Law Firm in Cooperation with CMS.

Practice head(s):

Barlas Balcıoğlu

Other key lawyers:

Günhan Yalçın; Ceyda Aydın; Cenk Yılgor; Burcu Boso


‘The team has been very responsive and practical. Particularly for international finance transactions, practicality is of the utmost importance to us, and we appreciated that about this team.’

‘Günhan Yalçın responded to our requests directly and promptly. While we understand the importance of associates working on our matters and are delighted to work with them, we also appreciated the fact that Günhan Yalçın was so involved because this was our first time working with this firm and his involvement inspired confidence.’

‘The firm is an expert in Turkish banking & corporate law. They are very experienced in international financing and provide legal opinions on international syndicated loans, ECA-loans, etc.’

‘Mr. Günhan Yalçın is very professional & competent. Looking always for solutions to support us as a client. Working fast, precise and reliable.’

‘The company provides legal services on banking, finance, capital markets and competition law. They have high skilled lawyers.’

‘The lawyers are very responsive and provide good quality of legal products within the agreed timeline.’

Key clients

Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V.

Coöperatieve Rabobank U.A.

Olam International Limited

Test Taşıt Muayene İstasyonları Yapım ve İşletim A.Ş.

HSBC Bank Middle East Ltd.

Bank of America Merrill Lynch International DAC

Sunrise Foods International Inc.

ODDO BHF Aktiengesellschaft

Arzum Elektrikli Ev Aletleri San. ve Tic. A.Ş.

Mediterra Capital

Galata Wind Enerji A.Ş

MLP Care

MNG Kargo

Suwen Tekstil Sanayi Pazarlama A.Ş.

Taxim Capital


Mercedes-Benz Finansman Türk A.Ş.

Enerjisa Enerji A.Ş.

Coca Cola İçecek A.Ş.

Turkcell İletişim Hizmetleri A.Ş.

Work highlights

  • Advised HSBC Bank Middle East Ltd. on a USD term loan facility to AKİŞ Gayrimenkul Yatirim Ortaklığı A.Ş. for the re-financing of Akasya Alışveriş Merkezi in Istanbul.
  • Advised Test Taşıt Muayene İstasyonları Yapım ve İşletim A.Ş. on a dividend recapitalisation loan in an amount of TRY 800m granted by Garanti Bankası and Alternatif Bank.
  • Acted as the transaction counsel of the IPO of Galata Wind, a subsidiary of Doğan Holding. Deal value: TRY 811m.

CIFTCI Attorney Partnership in association with Clifford Chance

CIFTCI Attorney Partnership in association with Clifford Chance, the Turkish arm of Clifford Chance, covers a full range of structured and complex financings, including acquisition finance, Islamic finance, structured finance, infrastructure finance, project finance (domestic and international), debt restructuring, real estate finance, and sovereign lending. The department headed by Sait Eryılmaz is also known for its capabilities handling IPOs and equity matters, and has a particular focus in the infrastructure, healthcare and energy sectors. Senior associate Gökçe Uzun provides additional key support.

Practice head(s):

Sait Eryılmaz

Other key lawyers:

Gökçe Uzun


Sait Eryılmaz is our main contact. We have been working with him for more than 5 years. Deep legal knowledge and expertise, also a very decent person. He is a real problem solver, offering best possible solutions in deadlock cases . I can also say that, the counselling and guidance of Sait is outstanding at all times, professional, client focused, prompt, timely and he is always open for calls and meetings when requested, and works through all of the issues and documents on the projects.’

Key clients

Goldman Sachs

Deutsche Bank


BNP Paribas




Türkiye Wealth Fund

European Fund for Southeast Europe (EFSE)

Industrial and Commercial Bank of China Limited  (ICBC)

JP Morgan

Bank of China



Asian Infrastructure Investment Bank ( AIIB)

Arçelik Global

CVC Capital Partners


Garanti BBVA

Yapı Kredi




Standard Chartered Bank

Dubai Islamic Bank

Emirates NBD

Merrill Lynch

Work highlights

  • Advised Arçelik Global on its green bond issuance, Turkey’s first-ever corporate green bond issuance in international markets.
  • Advised Türkiye Wealth Fund in relation to a EUR1.25 billion refinancing and upsizing facility  made available by 14 banks from countries in Asia, Europe, North America, Middle East.
  • Advised HSBC, Standard Chartered Bank, Dubai Islamic Bank and Emirates NBD as joint lead managers on the Republic of Turkey’s $2.5bn Sukuk issuance.

Esin Attorney Partnership, a Member Firm of Baker McKenzie International, a Swiss Verein

Praised for being ‘capable of running multiple projects in parallel and meeting deadlines’, Esin Attorney Partnership, a Member Firm of Baker McKenzie International, a Swiss Verein represents international and Turkish banks, corporates and private equity funds in financial restructuring, NPLs, acquisition finance, project finance, securitisation and sustainable and structured finance and equity and debt issuances, as well as regulatory matters. Muhsin Keskin, who has a ‘hands-on and detail-oriented approach’ heads the practice, which is also recommended for its capital markets services, particularly bond issuances and IPOs. In recent work, the team advised in relation to Ülker Bisküvi's debut $650m eurobond issuance.

Practice head(s):

Muhsin Keskin


‘Esin has a large team capable of running multiple projects in parallel and meeting deadlines on each specific project without any delays. Team members are all experienced in their areas and capable of advising clients.’

‘I worked with Muhsin on multiple projects. Muhsin has a very hands-on and detail-oriented approach, which gives comfort to me so that I can focus on other commercial matters during deal making (e.g. in the case of our ongoing IPO project).’

‘The company provides legal services with very wide coverage from banking, finance capital markets to labour law. They have very high skilled lawyers. They have appropriate resources.’

‘The lawyers (partners and associates) are very responsive and provide good quality product within the agreed timeline.’

Key clients

Akbank T.A.Ş.



Intesa Sanpaolo

The Export-Import Bank of China

Sumitomo Mitsui Banking Corporation

Société de Promotion et de Participation pour la Coopération Économique S.A. (Proparco)

BNP Paribas Fortis SA/NV

U.S. Overseas Private Investment Fund (OPIC)

QNB Financial Leasing

Agence Française de Dévéloppement


Asian Infrastructure Investment Bank

ING Bank



Work highlights

  • Advised Akbank in relation to the issuance of its ESG-linked  $500m fixed resettable sustainability Tier 2 Notes due 2031.
  • Advised Bank of America Merrill Lynch and Goldman Sachs as underwriters in relation to Pegasus Hava Taşımacılığı A.Ş.’s debut eurobond/high-yield bond offering: the issuance of the $375m 9.25% Notes due 2026.
  • Acted for Bank of America Merrill Lynch, JP Morgan, HSBC Bank plc and Rabobank in relation to Ülker Bisküvi’s debut $650m eurobond issuance.

Gedik & Eraksoy

Gedik & Eraksoy's ‘very hands-on and commercial’ team handles a broad offering of banking, finance and capital markets mandates, being well versed in syndicated lending, project finance, acquisition finance, Islamic finance, financial regulatory, securitisations and IPOs, and is particularly renowned for its strength in ESG and sustainable finance in Turkey. Hakkı Gedik and Umut Gurgey co-head the team, which also draws from its active regulatory practice for banks and other financial institutions, and works in conjunction with Allen & Overy’s Istanbul team.

Practice head(s):

Hakkı Gedik; Umut Gurgey


A solid market oriented and commercially aware team.’

Very hands-on and commercial.’

Key clients

Standard Chartered Bank

Bank of America

JPMorgan Securities PLC

The Export-Import Bank of China

Macquarie Bank Ltd (London branch)

Citigroup Global Markets Asia Limited

Société Générale SCF

Bank of New York Mellon (BNYM)

The International Finance Corporation (IFC)

UniCredit Bank AG

Merrill Lynch International

Coöperatieve Rabobank U.A.

Yapi ve Kredi Bankasi A.S.

The European Bank for Reconstruction and Development (EBRD)

Garanti BankI

CBC Turkey Yatırım Menkul Değerler A.Ş

Credit Europe Bank N.V.

Turkiye Is Bankasi A.S.

Work highlights

  • Advised Bank of America and Standard Chartered Bank in connection with an ESG-linked syndicated dual-tranche and dual-currency loan facility for Turkey’s Garanti BBVA.
  • Advised the Managers in connection with the issue of $580m 6.375 per cent Notes due 2025 by Istanbul Büyükşehir Belediyesi outside Turkey.
  • Represented the Bank of New York Mellon (BNYM) as the Depositary on Hepsiburada’s $780m initial public offering of American Depositary Shares on the Nasdaq stock exchange.

GKC Partners (in professional association with White & Case)

The ‘highly experienced team’ at GKC Partners (in professional association with White & Case) covers a wide spectrum of financing transactions, including syndicated lending, acquisition financing, acting for both banks and project investors on project financing, structured financing, and mezzanine financing. The team, which is headed by Güniz Gökçe and Derin Altan, also has an ‘excellent track record representing clients in international capital markets transactions’, including IPOs. Ateş Turnaoğlu brings in additional expertise to the team, which garners praise for its ‘can and will do attitude’. Recent work highlights include advising on its $780m IPO on Nasdaq.

Practice head(s):

Güniz Gökçe; Derin Altan

Other key lawyers:

Ateş Turnaoğlu


‘Their product knowledge on various financing instruments is impressive and makes it highly efficient to work with them. They approach clients not only as a legal advisor reflecting the views of the customer to documentation but as a consultant opening the minds of the client with best practices on the subject. Prompt, professional and highly trustworthy.’

‘Ms. Guniz Gokce and Mr. Ates Turnaoglu are best in their fields.’

‘Highly experienced team and concerned with clients’ wishes and needs.’

‘GKC & Partners (White & Case Turkey) has an excellent track record representing clients in international capital markets transactions. The team has been a long-standing partner for us and has always delivered excellent service on our transactions.’

‘Derin Altan led the GKC (W&C Turkey) team in our debut Eurobond offering in 2021. His lean approach is highly appreciated, he steps in when necessary, saves us time on many matters and takes on our particular needs with great attention.’

‘The team is more than capable of conducting business. It gives comfort to clients to know that the team has a forward looking approach aiming to capture all possible problems ahead.’

‘All individuals are quite talented but Mr. Ates Turnaoglu does an exceptional job conducting business.’

Trustworthy, open to dialogue and reachable, always with a “can&will do attitude“.’

Key clients

Enerjisa Enerji Üretim A.Ş.

Borusan Holding A.Ş.

Garanti BBVA

Türkiye Vakıflar Bankası T.A.O.

Alternatif Bank

Akbank T.A.Ş.

Ülker Bisküvi Sanayi A.Ş.

Commerzbank AG

Pegasus Airlines

Başkent Doğalgaz Dağıtım Gayrimenkul Yatırım A.Ş.

BofA Securities and UBS

Zorlu Yenilenebilir Enerji A.Ş. (Zorlu Renewables)


Goldman Sachs

JP Morgan

T.C. Ziraat Bankası A.Ş.

Türkiye Halk Bankası A.Ş.

Türkiye İş Bankası A.Ş.

Türkiye Sınai Kalkınma Bankası A.Ş.

Yapı ve Kredi Bankası A.Ş.

QNB Finansbank A.Ş.

Work highlights

  • Advised Enerjisa in connection with €650m corporate financing provided by Akbank, HSBC Bank, ING Bank, Turkiye Garanti Bankasi and Turkiye Is Bankasi.
  • Advised Borusan Holding in its borrowing of a dual-tranche $155m and €87m syndicated loan by an international and domestic consortium consisting of 11 banks from 7 differential geographic regions.
  • Represented in its $780m IPO (including green-shoe) on Nasdaq, being the first IPO by a Turkish company on Nasdaq.


Paksoy, ‘one of the premier full-service Turkish law firms’, advises borrowers and sponsors on all kinds of domestic and international financing transactions spanning a variety of industries, including financial services, energy and infrastructure, logistics, chemicals, manufacturing, aviation and maritime, FMCG, and TMT. It is also the ‘go-to firm in Turkey’ for capital market transactions, and has a particular niche strength handling Islamic finance transactions, including sukuk issuances. Key practitioners include department-heads Ömer Çollak and Sera Somay and senior associate Beril Paksoy. The team advised Morgan Stanley, J.P. Morgan, and Goldman Sachs on the $780m Nasdaq IPO of Hepsiburada.

Practice head(s):

Ömer Çollak; Sera Somay

Other key lawyers:

Beril Paksoy


‘Paksoy distinguished itself for its responsiveness and its precise, detailed advice.’

‘We worked mainly with Omer Collak who demonstrated a deep knowledge of Turkish civil, banking and bankruptcy law and provided very clear, detailed advice.’

‘Excellent job with very good knowledge.’

‘Sera and her team are really great. They deliver always and we are very happy with the cooperation and will definitely extend the relationship.’

‘As a firm / team, we have been working with Paksoy on Turkish finance and capital markets transactions for years, and they are our “go-to firm” in Turkey.’

‘I believe Paksoy is one of the premier full-service Turkish law firms. They generally have excellent lawyers that are experts on matters of Turkish law in their respective practice areas, with extensive experience working on international / cross-border transactions. The individuals I have worked with also speak fluent English.’

‘On the recent high yield bond offering, the main lawyers at Paksoy were highly knowledgeable and experienced banking and finance partner Sera Somay and senior associate Beril Paksoy.’

Key clients

Agence Française de Développement

Anadolu Efes

DZ Bank

Matriks and Garanti BBVA Securities

Islamic Development Bank

Istanbul Metropolitan Municipality


Morgan Stanley, J.P. Morgan, Goldman Sachs (underwriters to Hepsiburada IPO)

Standard Profil Automotive

Türkiye Sınai Kalkınma Bankası (TSKB)

Akol Law

Recommended for its ‘considerable experience in capital markets and banking & finance’, Akol Law garners additional praise for housing ‘one the most sophisticated team in Turkey, especially for public offerings’. The practice is headed by capital markets specialist Meltem Akol. It has a sturdy track record handling IPOs, DCM, bank finance, structured finance, project finance and other banking mandates. Ömer Gökhan Özmen, Güneş Yalçın and Damla Keskin Şerbetcioğlu have moved to ÖzmenYalçin.

Practice head(s):

Meltem Akol


‘The team is reachable, I can get my answers very quickly. They are also very experienced. Because they are working in so many different transactions, they are very familiar about the problems which may occur.’

‘Akol Law has considerable experience in Capital Markets, Banking & Finance as well as Mergers & Acquisitions. Apart from these experiences, Akol Law has good relations not only with their clients but also government agencies such as CMB.’

‘Thanks to Akol Law’s experience in IPO projects, they responded our and Capital Markets Board (CMB)’s needs fast so that the IPO process was so smooth and completed successfully in a very short time.’

‘Akol Law firm is one the most sophisticated team in Turkey, especially for public offerings. Team members are very cooperative and experienced in their fields. Public offering is a long and challenging process, many people from different companies have been involved in the working groups, Akol members are very good at managing all the parties.’

‘I have been working with Akol since 2019 on multiple projects. We have worked on Initial Public Offerings, where they have advised us and our clients on all aspects related to Initial Public Offering including legal due diligence, preparation of offering circular and other Capital markets Law related documentation. They are the most proactive legal advisors I have worked so far, they cover much more areas than they should and offer a huge relief on documentation and other to-do’s for investment bankers and the clients.’

‘Akol team is quite competent in banking&finance area. They have profound knowledge of the local market, dedication to deliver top-notch service and high capability of working alongside international law firms.’

Key clients


VTB Capital plc


China Development Bank



İş Bankası

Yapı ve Kredi Bankası A.Ş.

Deutsche Bank AG

Garanti Bankası


SCCF Structured Commodity & Corporate Finance SA

BNP Paribas

Aldridge Mineral

Birleşik İpotek Finansmanı A.Ş.

Palmet Enerji A.Ş.

Société General

Kervan Gıda


Exness Global Limited

Biotrend Çevre ve Enerji Yatırımları A.Ş.

Hayal Seramik Yapi Ve Ürünleri Turizm Sanayi Ticaret A.Ş.

Tureks Turizm

Midas Menkul Değerler A.Ş.

Oyak Yatırım

T. İş Bankası A.Ş.

Kütahya Şeker


Deniz Yatırım

Garanti Yatırım

YapıKredi Yatırım

Gedik Yatırım

Work highlights

  • Assisted Türkiye Garanti Bankası in the preparation of loan agreement and security documents regarding the financing of acquisition of Sesa Ambalaj by Doğan Holding.
  • Assisted Türkiye Vakıflar Bankası in its issuance of $750m 6.500% Sustainable Notes due 2026.
  • Assisted BIOTREND in its Initial Public Offering with Borsa İstanbul and DENİZYATIRIM and TSKB as the underwriters.

ASC Law Office

Three partners steer the team at ASC Law Office, Okan Beygo and Ela Sarı – both recommended as ‘amazing lawyers‘- and Levent Yetkil, one of the ‘go-to experts’ for ‘renewable power project financings’. The practice, which is praised for being ‘very capable of finding innovative solutions’, covers a wide range of banking, finance and capital markets matters, from traditional bank-to-borrower lending to high-value project and acquisition financing, IPOs, and derivative transactions, and is renowned for its solid debt restructuring offering.

Practice head(s):

Okan Beygo, Levent Yetkil; Ela Sari


‘The team is always available and very capable of finding innovative solutions. They are business minded lawyers and understand client’s needs and priorities. The team and partners know the sector very well and they have good relations with governmental institutions.’

‘Okan Beygo and Ela Sari are amazing lawyers. They are always available and very capable of finding innovative solutions. They are both business minded lawyers and understand client’s needs and priorities.’

‘Renewable energy financings are a particular strength of the team I have worked with most.’

‘Levent Yetkil is our client’s go-to expert on a number of renewable power project financings and I am always happy to work with him. They are diligent, responsive and detailed oriented without losing sight of the big picture.’

Key clients

T.C. Ziraat Bankası A.Ş.

AG Anadolu Grubu Holding A.Ş.

Türkiye Varlık Fonu (“Sovereign Wealth Fund of Turkey”)

Standard Chartered Bank (German)

Türkiye Halk Bankası A.Ş.

Osmanlı Yatırım Menkul Değerler A.Ş.

Çelik Motor Ticaret A.Ş.

Penta Teknoloji Ürünleri Dağıtım Ticaret A.Ş.

Türkiye Bankalar Birliği

Akfen Yenilenebilir Enerji

AEP Anadolu Etap Penkon Gıda ve Tarım Ürünleri A.Ş.

Unicredit Bank AG (German)

Er-Bakır Elektrolitik Bakır Mamülleri A.Ş.

Work highlights

  • Advising a Turkish Bank regarding a loan facility to be used as part of the financing of the construction, and operation, of the Çukurova Regional Airport.
  • Advising the lenders on the establishment of a high-value loan facility to be used for the construction, in Turkey, of the more than 200-kilometre Bandırma-Osmaneli “High Speed Train” railway project.
  • Represented both the central player in the Türkcell Shareholding Restructuring, the Sovereign Wealth Fund of Turkey, and Ziraat Bank, Lead Arranger of the related $2bn plus financing.  

Bezen & Partners

Bezen & Partners advises both domestic and international clients on a gamut of finance deals including legal advice to banks, financial institutions, IFIs, MDBs, investors and corporations in connection with acquisition and leveraged finance, asset finance, project finance (a particular niche strength of the practice) and senior, mezzanine, junior and subordinated and secured lending. Of late, the practice has advised an IFI on a loan transaction to the Istanbul Metropolitan Municipality for financing the construction of a 12 km metro line. Yeşim Bezen, Banu Bölükemini, who is highly involved in projects in the energy and infrastructure sectors, and Murat Soylu are the key names of the department.

Practice head(s):

Yeşim Bezen; Banu Bölükemini; Murat Soylu


‘We have worked together on finance matters. We like working with them because there is always a lead partner dealing with the matter. We have worked with Yesim Bezen and her team. She is always responsive and has business acumen, a commercial mind and reasonable approach to issues. The team is highly friendly and approachable. They generate confidence in the advice they provide. They are easy to approach and response times are in line with leading Magic Circle firms.’

‘Yesim Bezen sticks out. She has extensive legal knowledge, is pragmatic and focused and very easy to communicate with (she is fluent in German and English). Her experience from the years spent in a magic circle firm in London gives her an extra advantage as she has a unique familiarity with City of London business practices and professional expectations, invaluable when attending to transactions.’


Key clients


Yıldırım Holding

QNB Finansbank

Akfen Holding and its various subsidiaries

Rönesans Holding

SUEZ Groupe

Mefar İlaç Sanayi A.Ş.

İş Portföy Yönetimi A.Ş.

STEAG Enerji Ticareti ve Hizmetleri A.Ş.

Global Financial Markets Association

China Development Bank


Nederlandse Financierings-Maatschappij Voor Ontwikkelingslanden N.V. (FMO)

Work highlights

  • Advised the Black Sea Trade and Development Bank on a multimillion Dollar facility to the Istanbul Metropolitan Municipality for the construction of the Ümraniye-Ataşehir-Göztepe metro line in Istanbul.
  • Advising  a Turkish real estate investment trust, and its parent company in the restructuring of various financings undertaken by various affiliates for hotel investments in Turkey, Northern Cyprus and Russia.
  • Advised an African multilateral finance institution, on a €84m lending transaction to Aktif Bank.


DURUKAN+PARTNERS´ seven-strong practice is a solid choice for advisory regarding secured and unsecured financings, regulatory matters, restructuring and finance, and earns praise from clients for being a ‘very dedicated team, always available and able to guide through the complexity of the local authorities’. The ‘very knowledgeable and experiencedBegum Durukan Ozaydin, who can always think ‘one step ahead’ and has significant skills handling project finance and restructuring matters, heads the team. 

Practice head(s):

Begum Durukan Ozaydin


‘I mostly work with Begum Durukan. She is very knowledgeable and experienced and provides reliable commercial advice.’

‘Firm has very talented lawyers from top law schools therefore very easy to have a sophisticated communication. Especially Begüm Durukan can think one step ahead of the legal matter you bring to her and her contribution is very valuable in structuring a legal framework for a transaction. They can combine knowledge on different practice areas when they approaching an issue.’

‘Begum is a senior partner who has both sector knowledge and is highly experienced, and therefore can foresee the legal issues that need to be addressed and bring a new perspective to the matter in question. She is sharp, reliable, detailed yet practical. We appreciate the partner-level attention, her accessibility, her business mind, and feel in safe hands while working with her. She also has a good sense of how to approach counterparties, be it private parties or governmental agencies. She is able to reach the intended business goals in negotiations regarding legal documentation in a rational, determined and respectful approach.

‘A very dedicated team, always available and able to guide through the complexity of the local authorities. What I appreciate the most is the composition of her team with a high level of women building on their great qualities and dedication in a country where it may not be as common.’

‘Begum Durakan an incredibly dedicated professional with excellent understanding of non-Turkish practices. The ideal contact also for non-Turks who need to understand how things work in Turkey. In addition to her outstanding professional qualities I was impressed about her ability to build such a strong and experienced firm able to provide high standard legal services but also guidance to non-Turkish clients. All this starting from scratch. She has built her team with same demanding criteria.’

‘Begum Durukan is very strong in corporate and commercial matters so far as Turkish law is concerned, having working on complex corporate finance and restructuring transactions. She demonstrated excellent knowhow of Turkey’s insolvency regime and practices relating to corporate liquidations, and on syndicated financings extended by international banks to a Turkish borrower (and the restructuring of that loan).’

‘Begum bridges the divided in language and culture between Turkish and European/US counterparties, which is a key skill when doing business in Turkey as a foreigner. She is very responsive and client focused.’

Key clients

Ojer Telekomunikasyon A.Ş. and Oger Telecom Limited

Letterone Group

European Arab Bank plc (EAB)

International Finance Corporation (IFC)

MasterCard International Incorporated

Emaar Properties PJSC

China Development Bank

Sovcom Bank (Russia)

PVH Corp.

Alimentation Couche-Tard

Qatalyst Partners

Work highlights

  • Assisted IFC in connection with financings extended to Turkish borrowers or foreign borrowers with Turkish sponsors.
  • Advice to LetterOne, indirect shareholder in Turkcell, in certain restructuring and shareholding issues and concepts of capital markets laws as they may apply to Turkcell.
  • Advice to Emaar, as borrower, in connection with the $500m project finance facility regarding Emaar Square Project.

Erdem & Erdem Law Office

With Ercüment Erdem and Özgür Kocabaşoğlu at the helm, Erdem & Erdem Law Office handles acquisition finance and refinance, project finance, commercial banking transactions and bankruptcy matters, and also shows prowess advising private equity funds and financial institutions in debt capital market transactions. Tuna Colgar, who puts to use is ‘highly relevant background and vast experience’ when assisting clients, is another name to note.

Practice head(s):

Ercüment Erdem; Özgür Kocabaşoğlu

Other key lawyers:

Tuna Colgar


‘We have worked with this firm since 2007 and found them to have the ability to cover banking, corporate and potential restructuring/ insolvency issues well. We have been working with them on the financing of a transaction, the defaults, restructurings and potential insolvency aspects.’

‘Özgür Kocabaşoğlu is the key partner.’

‘The team has always been instantly available for our urgent queries and they have always been familiar with the cases we bring forward, thanks to their previous experience with similar matters. This has provided us full confidence for their work. They have been distinctly collaborative as if they are part of the in-house team.’

‘We have worked mostly with Tuna Colgar who was very good at finding pro-active solutions for our specific problems utilizing his highly relevant background and vast experience.’

Key clients

Şişecam Elyaf Sanayii A.Ş.

Türkiye Şişe ve Cam Fabrikaları A.Ş.

Soda Sanayii A.Ş.

Türkiye İş Bankası A.Ş.

Yılport Holding A.Ş.

Yıldırım Holding A.Ş.

Gemlik Gübre Sanayii A.Ş.

Work highlights

  • Providing retainer services, general advice on several matters regarding banking legislation and daily business of Türkiye İş Bankası.
  • Advised Şişecam regarding the merger of 6 companies, 5 of which are publicly held joint stock companies.


Lauded for its ‘accessibility, good timing, and technical knowledge’ Gökçe is a preferred choice for international and local banks and other financial institutions for assistance with a variety of financing and capital markets transactions including project finance, asset finance, banking, financial restructuring, acquisition financing, direct equity investments and issuance of bonds and notes. Görkem Gökçe, who has a particular expertise in FinTech related matters, is a key name. Senior associate Çağdaş Umut Vardar left the firm in February 2022. Since publication, Deniz Okuyucu left the firm.

Practice head(s):

Görkem Gökçe


‘Accessibility, good timing, and technical knowledge.’

‘Gökçe is able to respond to our ever-evolving needs as a growing FinTech company with a comprehensive and result oriented approach. Despite the pandemic, we have received a significant amount of investment and managed to develop our business with new products during which Gökçe consistently delivered very high-quality legal advice, particularly on the finance-related legal matters. What renders Gökçe unique for us is their ability to appreciate the finer details of financial technologies while providing us with insight into their potential legal implications. I have observed that Gökce has a welcoming environment designed to promote inclusivity, diversity, and innovation. The team boasts lawyers from all walks of life each contributing with his or her own distinct perspective to create a dynamic atmosphere.’

‘I would have to highlight the modern, energetic, and dynamic nature of Gökçe team. The individuals that I work with are highly committed to delivering excellent results in a timely fashion. They never shy away from integrating innovative methods into their daily activities. Görkem is exceptional at delivering thoroughly thought out and structured solutions to our financing needs. The team as a whole has outstanding communications skills while each member is easily accessible.’

‘The team is very competent, helpful, hardworking and most importantly, their priority is helping and supporting you rather than chasing you for fees at the outset.’

‘Gorkem Gokce – creative and hardworking, trying to find a solution to the problem rather than providing you with a negative answer. Worked very long hours (capped) with us like team members rather than outside counsel.’

‘They combine the boardroom skills and knowhow with street smarts and courtroom tactics. I trust the advice I get from them as they are able to project the process and possible outcomes of the deals/structures being tested.’

‘Gökçe has a large team consist of practitioners from different law branches ranging from banking and finance law to criminal law. Therefore, I consider them qualified in different legal matters. They also cooperate with experts from different fields requiring special knowledge and expertise such as tax law and competition law.’

‘First and foremost, they are accessible all the time no matter what time it is. and they welcome clients kindly anyways, and try to do their best at given circumstances.’

Key clients

Odea Bank A.Ş.

Türkiye Vakıflar Bankası T.A.O.

Industrial and Development Bank of Turkey (TSKB)

MBaer Merchant Bank AG

CBH Compagnie Bancaire Helvétique SA

Angora Gayrimenkul Değerleme A.Ş.


Layer Technology

Luciano Berlani

HIVC Venture Capital Investment Company

Inveo Investment Holding

Çelebi Holding A.Ş.

B. Braun Group

Inveo Portfolio Management

Work highlights

  • Advised a foreign investment & asset management firm on the termination of portfolio management agreements with a locally licensed portfolio management company as well as the termination of custody arrangements with a reputable deposit bank licensed in Turkey.
  • Assisted HIVC Venture Capital Investment Company with the application to the Capital Markets Board of Turkey for authorization license, and subsequently with several rounds of venture capital investments in Turkish start-ups.

Hergüner Bilgen Üçer Attorney Partnership

Hergüner Bilgen Üçer Attorney Partnership houses a ‘very diversified team with a broad set of talents’, which regularly advises on corporate finance, acquisition finance, project finance, Islamic finance, as well as regulatory mandates, and receives praise for its ‘global reach’. The practice is also experienced in assisting clients in organising employee stock option plans. Key practitioners include Kayra Üçer; Piraye Kuranel Başol, who is particularly experienced in project finance; and Yeşim Fethiye Api, the ‘go-to partner for all regulatory questions’.

Practice head(s):

Kayra Üçer; Piraye Kuranel Başol; Yeşim Api


‘Very diversified team with a broad set of talents, technically and interpersonally. What is appreciated with them is their global reach, specifically in Turkey but also globally when needed. With them, we don’t need to have additional firms as they can tackle most if not all our topics in an efficient way. They are reactive, reply in due time and keep an eye on topics which could be useful to us, even after the mandate has finished. Very valuable partner locally for us. I work with many very large law firms in the US, the Middle-East or Switzerland and Hergüner really stands out in terms of service and availability.’

‘Yesim Api is our go-to partner for all regulatory questions, extremely well connected, has helped us to ensure a swift process in all our endeavours locally.’

Key clients

Yapı Kredi

Ziraat Bankası

Global Exchange

Borusan EnBW Enerji Yatırımları ve Üretim A.Ş.


Export Development Canada

U.S. International Development Finance Corporation



İş Bankası


Dechert LLP, Paris

CNHI International SA

Tümad Madencilik Sanayi ve Ticaret A.Ş.


Cisco Systems

Finansbank A.Ş.

Wafra Capital Partners, Inc.

SYZ Group

Work highlights

  • Assisted in the refinancing of the Tümad Gold Mine project.
  • Assisted Standard Profil GMBH in a debut high-yield bond offering.

Pekin & Pekin

Pekin & Pekin is the firm of choice for a number of renowned financial institutions and international banks for its expertise and solid track record advising on bilateral and syndicated loans, leveraged finance, real estate finance, project finance, acquisition finance and Islamic finance. The practice is headed by senior market authority Ahmed Pekin, who has a wealth of  experience handling cross-border financings, and Eda Beltan. Former department co-head and capital markets expert Özge Okat left the firm in November 2021 to establish his own firm. Since publication, Hasan Yaşar left the firm.

Practice head(s):

Ahmed Pekin; Özge Okat; Eda Beltan


‘Detailed billing, very high collaboration, huge experience in many areas, deep knowledge with the associates.’

Key clients

Morgan Stanley & Co. International PLC

Huobi Global Limited

Bitexen Teknoloji A.Ş.

Citigroup Global Markets Inc.

Goldman Sachs International

HSBC Bank plc.

J.P. Morgan Securities plc

BofA Securities

Standard Chartered Bank

Work highlights

  • Acted for the underwriters on Republic of Turkey’s Eurobond issuances.
  • Advised a syndicate of five Nordic Banks on the acquisition financing of DFDS Denizcilik ve Taşımacılık A.Ş. in an amount of €740m, as increased by €90m to €830m.
  • Advising Huobi Global regarding different complex business models regarding cryptocurrencies in a regulatory environment with little guidance on cryptocurrencies.

YBK Law Firm in Cooperation with CMS

Alaz Eker Undar, who ‘always gives clear guidance’, and Hülya Kemahlı jointly head the banking and finance practice at YBK Law Firm in Cooperation with CMS, which specialises in cross-border project and acquisition finance, restructuring, and multilateral bank lending, while also offering a solid level of expertise handling capital markets mandates. Döne Yalcin, who advises on inbound investment into Turkey and outbound investments into the CEE region, is another key contact in the team.

Practice head(s):

Alaz Eker Ündar; Hülya Kemahlı

Other key lawyers:

Döne Yalcin


‘They are really professional and good at understanding the expectations of their clients. The timing is always perfect.’

‘We are working with Ms. Hulya Kemahlı. Her analytical intelligence makes life easy for clients. She could find a proper approach to the delicate issues.’

‘Fast and professional response – good structure of legal opinions – friendly and polite communication.’

‘The responses and information provided by Alaz Undar are very helpful and supportive. He always gives clear guidance.’

‘We were mostly in connection with Mr. Alaz Undar. He had a positive and responsive approach during our cooperation.’

Key clients

Denizbank A.Ş.

Work highlights

  • Advised Denizbank as the lead of a consortium of 13 Turkish banks on a financial restructuring (approx. TRY1.5bn) involving an indebted Turkish construction group.


CCAO has a solid track record advising lenders, agents, lead arrangers and borrowers across a number of industries and jurisdictions, particularly with refinancing, debt restructuring and project finance mandates. Onur Taktak, ‘leading partner’ Candemir Baltalı, who was promoted in January 2021, and Begüm Yörükoğlu are the key contacts.

Practice head(s):

Onur Taktak; Candemir Baltalı; Begüm Yörükoğlu


‘Follow up with high responsibility, good legal knowledge.’

Candemir Baltalı is a leading partner with a positive attitude and high legal expertise.’

Key clients

JP Morgan Chase Bank N.A

Citibank, NA

Denizbank AŞ. / Denizbank AG


Firstrand Bank Limited


Garanti Bank BBVA

Credit Europe Bank N.V.

Akbank AG

DZ Bank AG


Yapı ve Kredi Bankası A.Ş.

Akbank T.A.Ş.

Türkiye İş Bankası A.Ş.

Overseas Development Corporation

Dogan Holding A.Ş.

Çelebi Holding A.Ş.

Gencer Holding A.Ş.

Timur Gayrimenkul A.Ş.

Cengiz Holding A.Ş.

Work highlights

  • Advised a consortium of banks and The Bank of New York Mellon, London Branch as agent on $1.6bn to SOCAR and STEAŞ, arranged by JP Morgan Chase Bank, N.A and Citibank.
  • Advised a consortium of banks on funding for €200m for the construction and operation of the Ercan Airport by T&T.
  • Advised Akbank AG and Akbank T.A.Ş. in connection with the €275m debt instrument issuance of Standard Profil Automotive GmbH and repayment of the group’s borrowings.

Kolcuoglu Demirkan Koçakli

Kolcuoglu Demirkan Koçakli‘s ‘reliable, responsive and diligent’ practice has a solid expertise in transactions ranging from cross-border secured lending to portfolio restructuring, as well as acquisition financing to regulatory compliance. The team, which is headed by Umut Kolcuoğlu and Bihter Bozbay Inan, also provides services in the capital markets sector, as well as fintech, advising on Turkish legislation on banking, e-money, and payment service solutions. Melis Öget Koç, promoted to partner in 2021, is another name to note. Hasan H. Yaşar was a new arrival in July 2022.

Practice head(s):

Umut Kolcuoğlu; Bihter Bozbay Inan; Melis Öget Koç; Hasan H. Yaşar


‘They are reliable, responsive and diligent, and clearly understand the needs of our clients.’

‘Umut Kolcuoğlu and Bihter Bozbay are responsive and attentive, and provide useful and timely advice.’

Key clients

Barwa Bank PQSC

Mediterra Capital

Söke Un

Samsung C&T

Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG)

Deutsche Bank AG



Toronto Dominion Bank

Landesbank Baden Württemberg International

Work highlights

  • Advised Samsung C&T on the financing of a 950MW combined cycle power plant located in Kırıkkale, Turkey.
  • Advised DEG in connection with provision of a multimillion-euro loan by DEG and Société De Promotion Et De Participation Pour La Coopération Economique S.A. to Limak Afrika S.A. in connection with Limak Group’s investment in Côte d’Ivoire.
  • Advised Deutsche Bank in connection with a loan to be provided to a Turkish citizen, from Turkish law perspective.

Özdirekcan Dündar Şenocak Ak

Özdirekcan Dündar Şenocak Ak benefits from the banking and finance expertise of Gide’s international network, advising clients on all lending transactions as well as corporate and banking law advisory regarding contractual and regulatory matters. Arpat Şenocak and Bülent Özdirekcan head the practice, supported by associate Mehmet Kosoglu.

Other key lawyers:

Mehmet Kosoglu


I can definitely recommend ODS for their banking & finance practice. We worked with Mr Bulent Ozdirekcan and associates make up a very good team with a very responsive and sociable partner managing a number of individuals with great knowledge and dedication.’

Among Mr Ozdirekcan’s team members, Mehmet Kosoglu can easily be named as an exceptional individual, with strong legal notion well-exceeding expectations accompanied by a good understanding of commerce. It is usually law or business mind for lawyers. However, Mehmet combines both them in him.’

Arpat Senocak was very involved from the inception of the debt restructuring process and in the debt recovery proceedings. His legal expertise has helped us to understand the legal context in Turkey due to the particular location of the real estate assets used as collateral and he built a good legal strategy. Arpat Senocak’s perfect bi-cultural and bilingual Swiss/Turkish background has also been an asset to explain to our team key legal and procedural differences between the Swiss and Turkish legal systems which helped us tremendously to make the right strategic decision.’

Key clients

Société Générale

BNP Paribas

Skandinavska Enskilda Banken

AFDALD International

SG Hambros

PJSC Rosbank

Union Bancaire Privée

European Bank for Reconstruction and Development

International Finance Corporation

T. İş Bankası

AXA Sigorta

BNP Paribas Cardif Sigorta

Türkiye Sigorta

The Export-Import Bank of China

Euler Hermes

Ak Gida

Work highlights

  • Advising Société Générale’s Istanbul Branch Office regarding the day-to-day management of its operations in Turkey.
  • Assistance to Societe Generale Milano concerning the tax regime applicable to financial leases of aircrafts to be delivered to Turkish Airlines Inc.
  • Advising the Export-Import Bank of China regarding its €40m facility granted to ICBC Turkey Bank.

Pekin Bayar Mizrahi

As of September 2021, Pekin Bayar Mizrahi entered into an alliance agreement with Norton Rose Fulbright. The team represents banks, financial institutions, fintech and other equity companies in a range of banking, finance and capital markets transactions, including acquisition and project financings, establishment of electronic payment systems, securitisations, sukuk issuances and derivative transactions. Selin Bayar and Fatoş Otcuoğlu, who is particularly skilled in cross-border capital markets transactions, co-head the department.

Practice head(s):

Selin Bayar; Fatoş Otcuoğlu

Key clients

Odeabank A.Ş

QNB Finans Portföy A.Ş


Rabobank A.Ş

Yapı Kredi Bank A.Ş

NatWest Markets Plc Istanbul Merkez Subesi(former name Royal Bank of Scotland)

Tapestry Compliance

BC Partners

İzocam Ticaret A.Ş

Yapı Kredi Finansal Kiralama A.Ş

UniCredit Bank Austria AG

Work highlights

  • Advised a crypto asset platform on the expansion of its operations in Turkey.
  • Advised BC Partners on the sale of 11.67% of the shares, worth TL 940,763,034, of Migros Ticaret A.Ş. to the bookrunner Goldman Sachs International.
  • Advised a Danish bank on the refinancing of a secured facility provided to one of the leading suppliers of equipment and solutions for the ice cream industry worldwide.


TURUNÇ's team stands out for its 'commercial awareness and international know-how'. Noyan Turunç, Ilgin Eroglu Alyanak, who is skilled in handling cross-border project finance work, Kerem Turunç and capital markets expert İltem Dokurlar, who joined the team as partner in 2021 from the position of chief legal counsel at Yıldırım Holding, are the key names. The practice has solid expertise in transactional finance and regulatory advice, and regularly handles project financing and refinancing, syndicated loans, structured corporate financing and regulatory compliance, while also been skilled at managing capital markets mandates.

Practice head(s):

Noyan Turunç; Ilgin Eroglu Alyanak; Kerem Turunç; İltem Dokurlar


‘International know-how and network, a more hands-on approach by partners compared to peer firms, business acumen, and market knowledge. Ability to interpret the law and provide practical, tailor-made advice.’

‘Kerem Turunç: solid leadership and communication skills. Client-focused, always available. Deep US and UK capital markets experience. Very solution-oriented. Ilgin Eroglu Alyanak: great comfort in project finance deals thanks to her background at a major bank. İltem Dokurlar: excellent relations with regulators, speaks their language.’

‘Their team members’ international backgrounds are particularly useful because most of the transactions we work on together have a foreign component, usually in the US or the UK. Always an open line of communication when working on projects together, more than adequate staffing and no surprises in billing.’

‘Ilgin Eroglu Alyanak is always up to speed on market standards and practices. She is meticulous in her drafting and issue-spotting.

‘Transparency, trustworthiness, proactive approach, commercial awareness and international know-how put TURUNÇ above other firms. In my experience, no other firm in Turkey comes close to Turunç’s international experience. Many of Turunç’s lawyers have actual international backgrounds and bar qualifications. This is an unmatched asset in the market.’

‘Noyan Turunç: The only lawyer to call for tough decisions. Delivers legal and commercial advice at once. His previous role as general counsel of Coca-Cola is incredibly helpful in harmonizing legal and commercial advice.’

Kerem Turunç: The best capital markets lawyer I’ve met in Turkey.’

‘Kerem Turunc is in a league of his own for capital markets work. He knows US, UK, EU and Turkish rules and regulations like the back of his hand. Also, he’s super business savvy. His commercial awareness and understanding of the market are admirable. As a technology company, it gives me great comfort that I’m relying on someone who understands the underlying business. A megastar in my book.’

Key clients


Lycian Capital

Ege Kimya

Boğaziçi Ventures


Caffè Nero

Regions Bank

SC Johnson

Taxim Capital

Android Industries

İş Private Equity

Banco Santander

İş Investment Trust


Vinci Venture Capital

Camper Shoes

Work highlights

  • Advised beWise on developing the framework for its own multinational compliance model to enable small businesses and freelancers to invoice their customers through beWise.
  • Advised Lycian Capital on the formation of a new regulated fund focused on Turkish mid-market, high-growth companies.
  • Represented Ege Kimya in connection with a loan extended by the EBRD, Garanti Bank and Yapi Kredi Bank.

Çakmak Attorney Partnership

The ‘experienced team’ at Çakmak Attorney Partnership covers a variety of banking and finance, financial regulatory, debt capital markets and payment services work. The practice has a particular focus on project finance, and is a popular choice for lenders and sponsors in search of assistance for the development and financing of many major projects in the energy, mining and metal, oil and gas, infrastructure and transportation sectors. Key practitioners include Mesut Çakmak; Mustafa Durakoğlu, who regularly advises companies from the payments industry; and Devrim Ergun. Ayşe Eda Biçer Özen was promoted to partner in January 2021.

Practice head(s):

Mustafa Durakoğlu; Devrim Ergun

Other key lawyers:

Mesut Çakmak; Ayşe Eda Biçer Özen


‘Practical solutions to solve problems and cooperation with the parties during these solutions.’

‘For Cakmak I can easily say that teamwork is the joint action of people working toward the same end goal and it is more than just completing a task for them; they work together effectively.’

‘Cakmak Team is detail-oriented, organized, and always open to constructive feedback, making our business relationship both effortless and pleasant.’

‘Both Mesut Çakmak and Mustafa Durakoğlu are our best and only legal authorities who have produced many well-researched and compelling briefs, motions and arguments. They are not only thorough but also easy to work with and always take the time to discuss our concerns and respond to questions.’

‘Cakmak has an integrated and experienced team. They have the necessary knowledge and they make their clients feel comfortable about this. They act quickly and practically; i.e. they can provide tailor made legal advice.’

Key clients

Landesbank Baden – Württemberg and KFW IPEX – Bank

Visa Europe

Western Union

Bank Julius Baer

Bayerische Landesbank

National Bank of Kuwait and Kuwait Finance House

ERG Group

Ceska Exportni Banka

Limak Holding

Cengiz Holding


Entek Elektrik

Turkey Wealth Fund

European Bank for Reconstruction and Development

Work highlights

  • Advising Landesbank Baden-Württemberg and KfW Ipex-Bank in connection with the Euler-Hermes covered financing of 132 MW Phase II expansion investment of the Karaburun Wind Farm Project.
  • Day-to-day Turkish banking law and regulatory advice services to BayernLB.
  • Advising Limak Holding on the financing of the Diamond Skopje real estate project from a Turkish law perspective.

Cigdemtekin Cakirca Aranci Law Firm

Cigdemtekin Cakirca Aranci Law Firm has a notable track record representing a considerable number of local and multinational clients in corporate finance transactions, while also having been involved in significant IPO projects in recent times. Gamze Çiğdemtekin Özer and Tuna Çakırca are the key contacts.

Practice head(s):

Gamze Çiğdemtekin Özer; Tuna Çakırca Engür

Key clients


Cevher Jant A.Ş.

Franklin Templeton Investments

CEECAT Capital Limited

Verifone Elektronik ve Danışmanlık Ltd. Şti. (Verifone Turkey)

Aabar Investments PSJ

Templeton Asset Management

Edenred Turkey

Görener Family

Further Network

Work highlights

  • Advised Cevher on obtaining financing of €21m for a new production plant; the financing was extended by LLBW Bank of Germany as a Hermes backed loan.
  • Advising Verifone on a day-to-day basis on all its legal matters including payment services regulations, loan agreements, letter of guarantees and surety contracts.
  • Advising Panaroma on loan agreements, surety contracts and matters related to payment services regulations.

Gen Temizer Ozer

Noted for its ‘expertise in project finance’, mainly for energy projects, the practice at Gen Temizer Ozer is also particularly active in acquisition debt in the context of M&A. Recent work highlights include advising Commerzbank on its financing of wind turbines to renewable company Simay Elektrik. Edmund Emre Özer and Baran Gen, who ‘combines first-class legal knowledge with practical deal-making skills’, co-head the department.

Practice head(s):

Edmund Emre Özer; Baran Gen


‘We appreciate their expertise in project finance. For us their strength is that it is a deal focused firm that is led from the front by the partners who are hands on and highly responsive. Also very helpful in providing information on market developments that are relevant to the bank.’

‘Baran Gen: combines first class legal knowledge with practical deal-making skills. She puts the focus on the transaction to make sure it is done in the right way. She also fights hard for her clients when it is needed.’

Edmund Emre Ozer: he has English law expertise which we appreciate since many cross border financing deals are English law governed. He has a calm and constructive style of working with great experience in international transactions.’

‘Edmund Emre Özer is well versed both in English and Turkish Law. Being a credited lawyer in both a common law and a continental law country, he is able to tackle a wide range of problems.’

‘They advise us both on our financing matters and on our main businesses, industry and manufacturing. It is very refreshing for us to be able to take advice from them on diverse matters. Mr. Özer is especially is our go-to person in complex transactions.’

Key clients

Commerzbank AG

Berkshire Hathaway Inc.

Partners for Growth VI, LP

Erciyas Holding

Work highlights

  • Advised Commerzbank on its financing of wind turbines to the renewable energy business Simay Elektrik.
  • Advised PF Growth on its collateral package in respect of its financing of the Turkish micro mobility business Martı.
  • Advised Berkshire Hathaway on its approval process before the Banking Regulation and Supervision Agency in respect of the client’s indirect shareholding in Bank of America Yatırım Bank A.Ş.

Goksu Safi Isik Attorney Partnership

Ali Göksu and Fatma Gözde Akansel head the ‘always ready and available’ team at Goksu Safi Isik Attorney Partnership, which has a particular expertise in project finance -mainly infrastructure-, credit agreements and banking transactions. The group also well versed in structured finance.

Practice head(s):

Ali Goksu; Fatma Gozde Kardes


‘Their main innovation is their AI based technological infrastructure which allows us to get insight into both macro picture and micro details of our legal world. They have a solely dedicated team for us which is always ready and available whenever needed. So we have an excellent level of cooperation.’

‘I personally deal with Ali Goksu and Gozde Kardes at senior level. They are both excellent partners to run a project. Most recently, we were heavily engaged with each other due to the refinancing of the company and they have done an excellent job and some billion USD deal was very successfully negotiated and closed.’

‘Professional quality and experience, use of technology and full-availability and close collaboration. These are the qualities I think what makes GSI exceptional.’

‘Ali Goksu and Gozde Kardes are the partners I work with at senior level. They are both excellent and visionary lawyers in banking and project finance matters.’

‘Based on my experience, I can also note that they are way ahead in using legal-tech in Turkish legal market.’

‘Merging legal expertise with a strong financial insight is an excellent attribute which brings in creative and practical solutions to the issues and Gozde Kardes has the ability to do that.’

Key clients

IGA Airport

İGA Construction

SASA Polyester

Kalyon Gunes Teknolojileri Üretim

Kalyon Gunes Enerjisi Uretim

Bank of China


IC Holding


A Ali Investment


Cengiz Holding

Kolin Insaat

Work highlights

  • Advised IGA on refinancing the loan of 75% of €7.5bn.
  • Advised Sasa Polyester on issuing the first- convertible bond in Turkey for project financing.

Güner Law Office

Güner Law Office's practice is ‘very knowledgeable and is always seeking to find practical and commercial solutions’; it advises on syndicated loans, asset finance, debt finance, project finance and Islamic finance transactions. The team, which is headed by Ömer Erdoğan and Burçak Kurt Biçer, is also skilled in regulatory matters, having advised a significant number of multinational lenders and sponsors with their transactions in Turkey.

Practice head(s):

Ömer Erdoğan; Burçak Kurt Biçer


‘The Guner team is very knowledgeable and is always seeking to find practical and commercial solutions within the legal framework. They are responsive and regularly willing to go above and beyond.’

Key clients

Fiba Holding

Fina Hoding

ACI Worldwide Inc.

China Eximbank

Bank of America Merrill Lynch International Limited

Limak İnşaat Sanayi ve Ticaret A.Ş.


Denizbank A.Ş.

Türkiye İş Bankası A.Ş.

Türkiye Sınai Kalkınma Bankası A.Ş.

ING Bank N.V.

Wells Fargo

VTB Bank

Castleton Commodities UK Limited

Raiffeisenbank Bulgaria EAD

Limak Afrika S.A.

HSBC Bank France

SACE S.p.A. and SACE FCT S.p.A. through Jones Day Milan

African Export- Import Bank

VTB Capital Trading Limited

Work highlights

  • Advised Fiba Holding and Fina Holding (as Guarantors) and its subsidiary (as borrower) on the refinancing and post-refinancing of Swissotel The Bosphorus.
  • Advised Export-Import Bank of China in connection with the Export Buyer Credit Loan Agreement between Export Import Bank of China as the lender and Vakıfbank A.Ş. as the borrower.
  • Advised Centerra Luxembourg Holdings on the closure of the loan facility granted to the borrower, release and discharge of the guarantees and pledges granted within the scope of the facility agreement in the amount of $150m.

Lexist Law Firm

Murat Erbilen heads the department at Lexist Law Firm, which has extensive experience handling syndicated loans, secured and unsecured credit facilities, bridge facilities, refinancing, corporate and acquisition finance. The team is also well versed in capital market matters, including raising funds in debt and equity capital markets transactions.

Practice head(s):

Murat Erbilen

Key clients

Birleşim Mühendislik Isıtma Soğutma Havalandırma Sanayi ve Ticaret Anonim Şirketi