Hall Of Fame

Firms To Watch: Banking, finance and capital markets

Aksan Law Firm has notable expertise advising on the establishment of venture capital funds, as well as assisting with regulations related to crypto asset service providers.
EVG Attorney Partnership handles banking, finance and capital markets work for a mix of corporates, banks, asset management companies and real estate investment companies, among others.
LBF Partners focuses on capital markets matters, acting on IPOs and providing regulatory assistance.
Established in November 2021 by Yalçın Özge Okat, an experienced figure in the market, Okat Law has strength in delivering capital markets and regulatory advice to international banks and financial institutions operating in Turkey.
Özok Law Firm, which focuses on project finance, acquisition finance, structured finance, as well as Islamic finance, launched in 2019.
Solak & Partners Law Firm has a core focus on fintech and assists with issues relating to blockchain, crowdfunding and peer-to-peer and online lending.

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 …

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Banking, finance and capital markets in Turkey

Balcioglu Selçuk Ardiyok Keki

A ‘deep knowledge in finance matters‘ underscores the banking, finance and capital markets department at Balcioglu Selçuk Ardiyok Keki, which benefits from an association with the Dentons international network. Its client base of domestic and multinational entities come from an array of sectors including energy, real estate, hospitality, construction and infrastructure. Project financing is also a strong area for the firm, and it offers one of the few dedicated capital markets teams in the domestic law market, adept at advising on both equity and debt matters therein. Three lawyers spearhead the department: Barlas Balcioğlu counts a host of multinational and domestic banks among his client list; Günhan Yalçın stands out for his 15 years of experience in domestic and cross-border debt finance transactions; and Burcu Boso‘s practice has a particular focus on Turkish foreign exchange regulations, structuring of funding methods, bank regulatory matters and PPPs. Ceyda Aydın was promoted to counsel in April 2022 and regularly assists international and Turkish banks, other financial institutions and corporate borrowers with a variety of bilateral and syndicated financing transactions. Senior associate Ceren Akkur Bayram supports the practice heads on the gamut of matters. Müfit Arapoğlu departed to join Gen Temizer Ozer in December 2021.


Practice head(s):

Barlas Balcıoğlu; Günhan Yalçın; Burcu Boso


Other key lawyers:

Ceyda Aydın; Ceren Akkur Bayram; Cenk Yılgor


Testimonials

‘Highly professional individuals with an excellent service attitude.’

‘Passionate for his clients, walks the extra mile, very commercial.’

‘Expert in making analyses and detailed legal research.’

‘Researcher and solution oriented team members. Deep knowledge in finance matters.’

‘Best overall private sector support for financing agreements in Turkey! Financing agreements were ready within a week. BASEAK took over the communications with the end client which made the process easier and quicker.’

‘They set realistic deadlines and stick to them, which is not a rule for counsels in Turkey!’

‘Broad range of knowledge and capabilities within this well staffed law firm. Good quality of work products at very fair tariffs.’

‘Prompt responsiveness and comprehension. Perfectly service driven mindset. Very enjoyable cooperation with Günhan Yalçin and his team.’

Key clients

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


Sunrise Foods International Inc.


Tiryaki Agro Gıda ve Sanayi Ticaret A.Ş.


Tiryaki Holding A.Ş.


MUFG Bank, Ltd.


Bank of America Europe DAC


Mizuho Bank, Ltd.


Emirates NBD Capital


Unicredit SPA


Yapı ve Kredi Bankası A.Ş.


Oesterreichische Entwicklungsbank AG


Aareal Bank AG


Credit Europe Bank N.V.


Sberbank (Switzerland) AG


Kiva Capital Management, LLC


REYL & Cie SA


HSBC Bank A.Ş.


Hedef Araç Kiralama ve Servis A.Ş.


Göltaş Enerji Elektrik Üretim A.Ş.


HSBC Bank plc and HSBC Bank Middle East Limited


AK Bars Bank, PAO


ODDO BHF Aktiengesellschaft


Guggenheim Partners Investment Management, LLC


Black Sea Trade and Development Bank


Zürcher Kantonalbank (ZKB)


Work highlights


  • Advised Hedef Araç Kiralama ve Servis (Hedef Filo) on a ₺70m financing granted by Nurol Yatırım Bankası to Hedef Filo under a financial leasing agreement (sale and lease back).
  • Advised Sunrise Foods International on a $257.5m refinancing facility provided by a syndicate of banks.
  • Advised ODDO BHF Aktiengesellschaft and Euler Hermes Aktiengesellschaft on €20.2m ECA covered export finance facilities to Ecogreen Enerji Yatırım.

CIFTCI Attorney Partnership in association with Clifford Chance

CIFTCI Attorney Partnership in association with Clifford Chance draws on the international network and heft of its allied firm in advising various international and domestic financial entities, from banks to investment funds. Sait Eryılmaz is the main contact and has been at the forefront of infrastructure and energy transactions in the country, acting in PPPs, among other standout projects. He has assisted banks, ECAs, Islamic and conventional financial institutions, sponsors and other transaction parties with work both domestically and abroad. Senior associate Gökçe Uzun is a specialist in this area and qualified in Turkey, New York and England and Wales. She assists Eryılmaz across the spectrum of work, along with associates Başar Kırka and Ali Can Altıparmak.

Practice head(s):

Sait Eryılmaz


Other key lawyers:

Gökçe Uzun; Başar Kırka


Key clients

TAV Havalimanları Holding A.Ş.


Fraport AG Frankfurt Airport Services Worldwide


Fraport TAV Antalya Yatırım Yapım Ve İşletme A.Ş.


Credit Suisse


Standard Chartered Bank


ZiraatBank, Akbank, Yapı Kredi, Isbank, Garanti BBVA, Türkiye Sınai Kalkınma Bankası, Denizbank


FMO and Proparco


TAV Tunisie S.A. and TAV Havalimanları Holding A.Ş.


EBRD


IFC


Work highlights


  • Advising the joint venture of airport operators TAV Havalimanları Holding. and Fraport AG Frankfurt Airport Services Worldwide on a €1.2bn bridge financing regarding the renewal of operational rights for Antalya Airport in Turkey.
  • Advising Türkiye Wealth Fund on the refinancing and upsizing of its €1bn syndicated facility.
  • Advising Credit Suisse, Standard Chartered Bank and other lenders in a sustainable civil infrastructure export financing, provided to the Republic of Turkey for the Ankara-İzmir High-Speed Electric Railway Project.

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

Recognised as ‘one of most intelligent lawyers in banking, finance and capital markets‘, Muhsin Keskin spearheads the practice at Esin Attorney Partnership, a Member Firm of Baker McKenzie International, a Swiss Verein. The department has continued to grow its impressive client base, a recent addition being investment management services company Ünlü Menkul Değerler, which joins a crop of major international banks, domestic banks, and an array of financial institutions. Work covers the gamut of matters in the area, from IPOs for companies in various sectors, to bond offerings and syndicated loan agreements, a recent highlight of which was counsel to MUFG Bank on a term loan facility to Socar Enerji to refinance its $1.3bn ST2 arrangement involving Goldman Sachs International. The main support to Keskin comes from Zeki Nizam Cebe.


Practice head(s):

Muhsin Keskin


Other key lawyers:

Zeki Nizam Cebe


Testimonials

‘We think of them as our solution partners in every case. Their collaboration is very inspiring.’

‘Esin Attorney Partnership is so far the number one law firm in Turkey. I work with them almost in every matters, M&A, financing, compliance, general legal advice etc. All the associates at each level are chosen very carefully, they choose top tier law students as interns. All the attorneys have indebt knowledge of legal matters and give valuable legal advice. Their client treatment is extremely good.’

‘Muhsin Keskin is one of most intelligent lawyers in banking, finance and capital markets practice in Turkey. He is smart, business minded, responsive and have excellent legal and communication skills.’

Key clients

Agence Française de Developpement


Akbank T.A.Ş


Arena Bilgisayar Sanayi ve Ticaret A.Ş. and Brightstar Telekomünikasyon Dağıtım Ltd. Şti.


Asian Infrastructure Investment Bank


Bank of America Merrill Lynch


BNP Paribas


BNPP


Çimsa


Citi


Commerzbank


Global Ports Holding


HSBC


ING Bank


Intesa SanPaolo


İş Yatırım


JP Morgan


Kastamonu Entegre


Koç Holding A.Ş., Kalamış ve Fenerbahçe Marina İşletmeciliği Anonim Şirketi and Tek-Art Kalamış ve Fenerbahçe Marmara Turizm Tesisleri Anonim Şirketi


Kordsa


MUFG Bank


Obase Bilgisayar ve Danışmanlık Hizmetleri Tic. A.Ş.


POLAT YOL YAPI SANAYİ VE TİCARET ANONİM ŞİRKETİ, ESTON İNŞAAT YATIRIM A.Ş., ÜNER ENERJİ ELEKTRİK ÜRETİM SAN. VE TİC. A.Ş.


Proparco


QNB Finans Finansal Kiralama


QNB Finansal Kiralama A.Ş.


Rabobank


Şeker Gayrimenkul Yatırım Ortaklığı A.Ş.


Société Generale


Ünlü Yatırım Holding


Vakıfbank


Yapı Kredi Finansal Kiralama


Socar Turkey


Yapı Kredi Yatırım


Ünlü Portföy


Ünlü Menkul Değerler


Yapı Kredi


Ulusal Faktoring


İş Bankası


Work highlights


  • Advising MUFG Bank on a term loan facility provided to Socar Enerji to refinance Socar Enerji’s $1.3bn ST2 financing arrangement involving Goldman Sachs International.
  • Advising Akbank on $460m and €206.8m term loan facilities agreements entered into with a syndicate of international banks.
  • Assisting Ünlü Menkul Değerler with an intermediation and market-making agreement with Goldman Sachs International for the purchase or sale by Ünlü Menkul Değerler in Turkey of the warrants issued by Goldman Sachs and Ünlü Menkul Değerler.

Gedik & Eraksoy

Gedik & Eraksoy assists an international client base of financial institutions and banks with a variety of financing models, notes issuances and regulatory advice, among other matters. Associated with Allen & Overy, the practice benefits from their international network and reputation, frequently collaborating with its international offices on capital markets deals, in which it is a regular presence at the top of the market in Turkey. The well-regarded Hakki Gedik is one of three practice heads in the department and handles all types of structured financing matters. Fellow practice head Umut Gurgey assists with syndicated lending, leveraged and acquisition finance, project finance and securitisations; and rounding out the trio is English-law qualified Adam Fadian. Support to the department heads comes from senior associate Dilsah Gurses and associate Burak Ozsoy.

Practice head(s):

Hakki Gedik; Umut Gurgey; Adam Fadian


Other key lawyers:

Dilsah Gurses; Burak Ozsoy


Key clients

‘The team has very strong knowledge of the Turkish market.’


‘Hakki Gedik is the strongest legal person in the industry.’


Work highlights


  • Acted for Arçelik (as borrower) in a €150m green loan facility from EBRD.
  • 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)

Clients of GKC Partners (in professional association with White & Case) appreciate the ‘huge range and depth of their expertise‘ and look to the practice for the gamut of matters across banking, financing and capital markets. The firm is often at the forefront of new types of work in the Turkish market, a recent case in point saw practice co-head Güniz Gökçe lead advice to the European Bank for Reconstruction and Development (EBRD) on the country’s first loan within the framework of the recently established Green Economy Financing Facility (GEFF). Gökçe is the lead contact for banking and finance work, while Derin Altan is the name to note for capital markets, and is a go-to figure in the country for equity and debt offerings. Ateş Turnaoğlu is praised for his ‘client-orientated approach’ and ‘in-depth expertise‘, while Gökçe Uluç, appointed partner in January 2022, is well-versed in municipal financings, mezzanine transactions and acquisition financings.


Practice head(s):

Güniz Gökçe; Derin Altan


Other key lawyers:

Ateş Turnaoğlu; Gökçe Uluç


Testimonials

‘Gives practical advice: huge range and depth of their expertise to develop commercial, effective solutions for us.’

‘Ateş Turnaoğlu – client oriented approach, in-depth expertise, effective solutions for the clients.’

Key clients

Akbank T.A.Ş.


Deutsche Bank


TEB


T.C. Ziraat Bankası A.Ş.


VakıfBank


Alpha Bank


Piraeus Bank


Kommunalkredit Austria AG


QNB Finansbank


Türkiye Garanti Bankası A.Ş.


TSKB


Türkiye İş Bankası A.Ş.


EBRD


Yapı ve Kredi Bankası A.Ş.


IFC


Citi


Goldman Sachs


JP Morgan


Grupo BBVA


Work highlights


  • Acted for the consortium of lenders, led by Deutsche Bank, in the €1.225bn financing for the upfront lease payment to the General Directorate of State Airports Authority (DHMI) for Antalya Airport.
  • Advised the lenders (Türkiye İş Bankası, Türkiye Sınai Kalkınma Bankası ve Akbank) led by Garanti Bankası in connection with the ₺776m and €32m financing extended to ISS Tesis Yönetim Hizmetleri for the acquisition of Rönesans İşletme Hizmetleri Danışmanlığ.
  • Advised EBRD on a €53.5 million facility to Türkiye Sınai Kalkınma Bankası (TSKB) under the newly established green credit line, the Green Economy Financing Facility (GEFF).

Paksoy

Paksoy provides ‘top-level advice and support in banking and finance transactions in Turkey‘ and is best known for its counsel to foreign banks, international financial institutions and large corporate borrowers on transactional and regulatory matters. Recent advice to Deutsche Bank on its €925m financing to Turkey’s state-owned oil and gas company Botaş was a standout highlight, representative of the team’s prowess. On the capital markets front, Ömer Çollak heads the department that assists with equity, debt and equity-linked transactions, including IPOs and SPOs, debt offerings, sukuk offerings and regulatory matters. ‘Exceptionally talented partnerSera Somay leads the banking and finance side and is well-versed in advising on a variety loan products and all forms of secured financing. Counsel Ökkeş Şahan draws on professional experience at the Capital Markets Board of Turkey to support Çollak on that side. Senior associates Beril Paksoy and Merve Kurdak both regularly assist the practice heads.

Practice head(s):

Ömer Çollak; Sera Somay


Other key lawyers:

Beril Paksoy; Ökkeş Şahan; Merve Kurdak


Testimonials

‘Team is capable and talented.’

‘Ömer Çollak is one of the best lawyer in banking, finance and capital markets issues.’

‘This team has been providing top-level advice and support in banking and finance transactions in Turkey as a combination of unique knowledge, commitment to high-quality standards and dedication.’

‘Sera Somay is an exceptionally talented partner. Beside her undeniable technical skills, Sera has a solid understanding of commercial aspects of a finance deal and of a client’s needs with a highly appreciated attitude to find viable solutions to complex problems.’

‘The team is customer friendly and now what they are doing most of the time. Besides their legal expertise, they have a commercial point of view that makes the difference. Almost always available for most of the time when things get intense.’

‘Merve Kurdak stands out with her exceptional commitment.’

‘Paksoy is one or our go to firms for Turkish advice in connection with our finance and capital markets transactions. I believe Paksoy is generally a leading firm and also one of the bigger firms in Turkey. The team is highly experienced with cross-border transactions, and the firm offers a one-stop shop, e.g. they are also able to help resolve any specialist issues (such as tax) that may come up in connection with a transaction.’

‘On a recent high yield bond offering and super senior revolving credit facility, I worked particularly closely with partner Sera Somay and senior associate Beril Paksoy. Both are a pleasure to work with, fluent in English, highly responsive and experienced with international finance transactions and prepared to go the extra mile.’

Key clients

Agence Française de Développement (AFD)


Aka Bank


Albaraka Group


Anatolia Tanı ve Biyoteknoloji Ürünleri


BNP Paribas Cardif


Borusan Holding


Coca-Cola İçecek


DIB


Döktaş Dökümcülük


DZ Bank


Emirates NBD


Fiba Holding


Finans Leasing


ING Bank


İşbir Sentetik


Landesbank Hessen-Thüringen Girozentrale (Helaba)


LimakPort


Masraf Al Rayan


MIGROS


MUFG Bank


Mizuho Bank


Odeabank


Pasha Yatırım Bankası


Qinvest


SASA


TEB


Tristone


Turkcell


Türk Eximbank


Türkiye Sınai Kalkınma Bankası (TSKB)


Zorlu Group


Work highlights


  • Advised Coca-Cola İçecek on a sustainability-linked bond offering.
  • Advised Deutsche Bank on a €925m financing to Turkey’s state-owned oil and gas company Botaş.
  • Advised Osmangazi Elektrik Dağıtım (OEDAŞ), an electric distribution company, on a €375m financing.

ASC Law Office

ASC Law Office fields a banking and finance practice which covers a diverse workload and acts for a foreign and domestic client base of financial institutions, banks and companies. Complex and significant debt restructurings are one of the team’s standout strengths, while clients also appreciate its ‘great connections with regulatory authorities‘. A trio of lawyers coordinates the department: founding partner Okan Beygo draws on 35 years of experience in banking and finance law, including a stint in-house at Citibank; Levent Yetkil is well-versed in cross-border financing and debt restructuring; and Ela Sarı has particular expertise in capital markets transactions, project finance and infrastructure investments.

Practice head(s):

Okan Beygo; Levent Yetkil; Ela Sarı


Testimonials

Key clients

T.C. Ziraat Bankası A.Ş.1


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


Türkiye İş Bankası A.Ş.


Türkiye Sınai Kalkınma Bankası A.Ş.


Silvan Sanayi A.Ş.


Borusan Oto Servis ve Ticaret A.Ş.


Standard Chartered Bank (Germany)


Bayerische Landesbank (Germany)


Yapı ve Kredi Bankası


Unicredit Bank AG (Germany)


Türkiye Halk Bankası A.Ş.


Çelik Motor Ticaret A.Ş.


Penta Teknoloji Ürünleri Dağıtım Ticaret A.Ş.


Osmanlı Yatırım Menkul Değerler A.Ş.


İGA Havalimanı İşletmesi Anonim Şirketi


Boyabat Elektrik Üretim ve Ticaret A.Ş.


Aslancık Elektrik Üretim A.Ş.


Work highlights


  • Represented Standard Chartered Bank in the establishment of a €1.214 Loan Facility to be used for the construction, in Turkey, of the Bandırma-Osmaneli railway project.
  • Advised Ziraat Bank, as borrower, on a two-tranche $1.33bn syndicated loan facility provided by a consortium of 45 local and international financial institutions.
  • Advised the Turkish Halk Bank, as the lead arranger, and 11 other financial institutions, on restructuring the approximately $465m debt of a Turkish metallurgy firm.

Bezen & Partners

The broad banking and finance department at Bezen & Partners is active across a range of matters and has recently established itself in the fintech market, a field where Turkey is considered as an emerging market. Its client base is both domestic and international, including banks, investment companies and financial institutions. Three partners spearhead the practice group: Yeşim Bezen, one of the founding partners, whose experience includes having worked at a magic circle firm in London; Banu Bölükemini, a key advisor to the European Bank for Reconstruction and Development (EBRD), among others; and Murat Soylu, who works across the range of matters but focuses on capital markets transactions. Associate Berkay Sezginci joined in April 2022 and has been regularly assisting the practice heads.


Practice head(s):

Yeşim Bezen; Banu Bölükemini; Murat Soylu


Other key lawyers:

Berkay Sezginci


Testimonials

‘Bezen & Parners have been very helpful in providing both quick and precise description of possible solutions under Turkish law on any given task and deep insight in their memoranda on more complicated issues and intricacies of Turkish law norms and their application. The firm was able to provide quick and thorough responses to all posed questions and demonstrated strong support during negotiations.’

‘Our responsible partner was Murat Soylu. Having worked with him we can easily point out such qualities as responsiveness, problem-solving attitude, strong knowledge and experience. His expertise is well balanced and fine merged with his business mindedness.’

Key clients

EBRD


Akfen Gayrimenkul Yatırım Ortaklığı A.Ş.


Rönesans Holding


Yıldırım Holding A.Ş.


Wise Payments Limited


Baraka Financial Limited


Banque cantonale de Geneve


RTGS Global


Kredit für Wiederaufbau IPEX


Afrexim Bank


Work highlights


  • Advised Akfen Holding, a Turkish real estate investment trust, and its parent company, on the restructuring of various financings executed by various affiliates for hotel investments in Türkiye, Northern Cyprus and Russia.
  • Acted for African Export-Import Bank, an African multilateral finance institution, in a $1bn joint lending transaction with Aktif Bank.
  • Assisted Baraka Financial with its queries regarding reversing solicitation rules under Turkish law and potential implications of the applicable financial services legislation.

DURUKAN+PARTNERS

Several international banks count on DURUKAN+PARTNERS for advice on matters spanning the range of regulatory issues; secured and unsecured financings; and capital markets transactions and compliance, amongst other work. Begum Durukan Ozaydin is the practice head and is particularly renowned in the project financing space, while also standing out in core finance and insurance matters. Associate Furkan Ergün has assisted with debt refinancing, energy sector loan agreements, and export credit facilities, among other matters in a varied workload.


Practice head(s):

Begum Durukan Ozaydin


Key clients

China Development Bank


Arab Bank plc- Algeria


European Arab Bank plc (EAB)


Emaar Properties PJSC


International Finance Corporation (IFC)


Ansaldo Energia SpA


Turkiye Sinai ve Kalkinma Bankasi (TSKB)


Work highlights


Erdem & Erdem Law Office

Erdem & Erdem Law Office has an impressive client base of banks and financial institutions, to which HSBC and Deutsche Bank Switzerland were notable new international additions in 2022. It is equally strong in that regard on the domestic front and supports clients with loan transactions, structuring, and day-to-day retainer services. The banking and finance department also advises corporate issuers, private equity funds, and financial institutions on debt capital markets matters, covering high yield foreign currency or Turkish lira bond issuances, secured and unsecured debt supply, and private placements. Firm founder and senior partner Ercüment Erdem coordinates the practice with Özgür Kocabaşoğlu, who draws on 20 years’ broad experience across banking, finance and capital markets, and has a niche knowledge of the Chinese market. Managing associate Didem Adlığ joined from an in-house position in February 2022.

Practice head(s):

Ercüment Erdem; Özgür Kocabaşoğlu


Other key lawyers:

Didem Adlığ


Testimonials

‘The team responded our inquiry efficiently and timely manner. Our request had been taken instantly and they provided their feedback and report in a very short period of time. I found the team professional, easy to communicate and efficient.’

‘Individuals took our project instantly and provided their feedback and report in a timely manner. I was happy with the level of service and offering. Their report was easy to understand and comprehensive. Individuals always replied back to our questions and remarks in a very efficient way. I was very happy with their service offering.’

‘It is a great pleasure for us to work with Ercüment Erdem. While conveying his opinion on a subject, he is very clear about the subject. He provides great legal certainty.’

Key clients

Türkiye İş Bankası A.Ş.


Yıldırım Holding A.Ş.


Türkiye Şişe ve Cam Fabrikaları A.Ş.


Göçtur Turizm Yatırım ve Ticaret A.Ş.


İş Portföy


Ege Endüstri ve Ticaret A.Ş.


HSBC UK


Mikro Capital


Sarten Ambalaj


Deutsche Bank (Deutsche Bank Türkiye)


Deutsche Bank AG (Switzerland)


Türkiye Finans Katılım Bankası A.Ş.


QNB Finansbank A.Ş.


HSBC Bank A.Ş.


Yapı ve Kredi Bankası A.Ş.


Türkiye Sınai Kalkınma Bankası A.Ş.


SACE


HERMES


Samruk – Kazyna Sovereign Wealth Fund Joint Stock Company


Work highlights


  • Advising domestic bank İş Bankası on retainer services including general or transactional advice on several matters regarding banking and capital markets legislation.
  • Advising QNB Finansbank on structuring of Step Halıcılık Group in Turkey.
  • Advising Yıldırım Holding on execution of ISDA agreement and providing a legal opinion for the capacity.

Hergüner Bilgen Üçer Attorney Partnership

Hergüner Bilgen Üçer Attorney Partnership fields a robust capital markets team that acts in a number of the country’s leading bond issuances. This runs alongside it banking and finance practice, which is adept in a range of deal types, from project and corporate financings to Islamic financing and financing as part of M&A. Turkey’s relatively frequent and dramatic regulatory changes have necessitated the team’s strength in advising on new regulatory requirements, along with contractual changes that might be needed. Piraye Kuranel Başol brings to bear ten years of experience in co-leading the department, assisting with complex financing deals. Alongside her are Yeşim Api Şamlı, who focuses on transactional and compliance matters; and Mert Oğuzülgen, whose expertise is on the corporate law side.

Practice head(s):

Piraye Kuranel Başol; Yeşim Api Şamlı; M. Mert Oğuzülgen


Key clients

International Paper


EBRD


Export Development Canada


U.S. International Development Finance Corporation


IFC


EIB


Work highlights


  • Assisted International Paper with the sale of its Turkish subsidiary, Olmuksan International Paper Ambalaj Sanayi ve Ticaret, through a competitive bidding process involving 16 bidders.
  • Acted as the Turkish counsel to the initial purchasers, Credit Suisse, and Morgan Stanley, in the debut high-yield bond offering of Standard Profil of €275m 6.250% senior secured notes due 30 April 2026.
  • Assisting ICBC Turkey with all its regulatory needs in relation to the capital market activities conducted in Turkey through various different business lines.

Kolcuoglu Demirkan Koçakli

Capital markets disputes are a niche strength for the team at Kolcuoglu Demirkan Koçakli which covers a variety of work, from cross-border secured lending to portfolio restructuring, acquisition financing and regulatory compliance. Hasan H. Yaşar joined the firm from Pekin & Pekin in July 2022, further bolstering its capital markets prowess, an area in which he has acted for multinational banks, brokerage firms, investment funds and publicly held companies. Yaşar joins what is now a trio of practice heads, alongside Umut Kolcuoğlu, who has broad finance experience and a particularl focus on the German market; and Bihter Bozbay Inan, whose practice has a transactional focus.

Practice head(s):

Umut Kolcuoğlu; Bihter Bozbay İnan; Hasan H. Yaşar


Other key lawyers:

Eda Saraçoğlu


Key clients

Turk Elektronik Para


Barwa Bank PQSC


Mediterra Capital


Söke Un


Samsung C&T


Deutsche Investitions- und Entwicklungsgesellschaft mbH (DEG)


ING Bank NV


Iyzico


Toronto Dominion Bank


Work highlights


  • Advised Turk Elektronik Para on a ₺600m share subscription by institutional investors, EBRD, CEECAT Capital, Alpha Associates and Revo Capital.
  • Advised Mediterra Capital on its exit from Söke Un, including legal advice on the additional share pledge granted in favor of İş Bank as the lender.

Pekin & Pekin

The team at Pekin & Pekin is well-versed in advising on substantial financial transactions and acts for renowned financial institutions and international banks in a multitude of matters. On the financing front, bilateral and syndicated loans, leveraged finance, acquisition finance and the more niche area of Islamic finance are all within the department’s wheelhouse, while in banking, the firm counts domestic and international names among its retainer clients, assisting with regulatory issues. Capital markets work is a notable strength. The firm has a recent history acting in first-of-their-kind matters and is adept on both the equity and debt sides. Leadership of the department is split between Ahmed Pekin, Eda Beltan and 2022 partner-appointment Göze Yıldırım. Göksu Gökay is the name to note at senior associate level.


Practice head(s):

Ahmed Pekin; Eda Beltan; Göze Yıldırım


Other key lawyers:

Göksu Gökay


Testimonials

‘Pekin & Pekin is one of our go to law firms in Turkey. They are very responsive and have a great understanding of our products / transactions (derivatives).’

Key clients

Citigroup Global Markets Inc.


Société Générale


J.P. Morgan Securities plc


Goldman Sachs International


BNP Paribas


Deutsche Bank AG, London Branch


Merrill Lynch International


European Bank for Reconstruction and Development


Fenerbahçe Sports Club


Work highlights


  • Acted for underwriters Citigroup Global Markets, Goldman Sachs International, J.P. Morgan Securities, Société Générale, BNP Paribas, Deutsche Bank, London Branch, and Merrill Lynch on Turkey’s eurobond issuances totalling $6bn.
  • Acted for Fenerbahçe, one of the biggest four Turkish football clubs, and its group companies, in a financial restructuring agreement with a consortium of lenders.
  • Advised the European Bank for Reconstruction and Development (EBRD) on a project agreement with Yapı ve Kredi Bankası where EBRD Funding will be used.

Pekin Bayar Mizrahi

Pekin Bayar Mizrahi, allied with Norton Rose Fulbright, acts in a range of international banking and finance matters, as well as a selection of domestic capital markets work, including IPOs and blockchain technology matters. Selin Bayar excels on the transactional side of the practice and co-leads both this and the firm’s corporate law practice. She shares the leadership of the banking and finance group with Fatoş Otcuoğlu, who regularly represents banks, financial institutions, project and equity companies in matters ranging from syndicated facilities and public lending, to project financings, securitisations and IPOs. Utku Ünver joined on secondment from Norton Rose Fulbright in December 2021, along with senior associate Damla Çay; Ünver focuses more on project financing, while Çay has a keen eye for transactional matters. Zeynep Tezan is another senior associate to note, acting for local and international financial institutions in capital markets work.

Practice head(s):

Selin Bayar; Fatoş Otcuoğlu


Other key lawyers:

Utku Ünver; Damla Çay; Zeynep Tezan


Testimonials

‘PBM is one of the few real full-service law firms in Turkey. So you can easily receive a comprehensive legal advice for each matter. We really appreciate the substantial involvement of partners and counsels in projects, instead of leaving all the work to be done by the associates. Such practise enables us to receive a very high quality services and feel confident for what we receive. It is also worth noting that they are exceptionally responsive and sensitive on deadlines.’

‘We frequently work with the banking, finance and capital markets head, Fatoş Otcuoğlu who is also very experienced on fintech and blockchain. Beside her legal knowledge, she is very pragmatic, trustworthy and has a remarkable commercial sense on broad range of financial products.’

Key clients

Odeabank


QNB Finans Portföy


Natixis


Rabobank Turkey


Coöperatieve Rabobank U.A.


Yapı Kredi Bank


Danske Bank A.S


Tapestry


BC Partners


İzocam


Nasmed Özel Sağlık Hizmetleri Ticaret Anonim Şirketi


Yapı Kredi Leasing


QNB Finans Leasing


HSBC


BpiFrance


Work highlights


  • Advised Yapı Kredi Leasing on the first JBIC/NEXI facility within the Turkish leasing sector for the long-term financing of a lease agreement of port container cranes.
  • Acted for HSBC Bank Middle East on a $50m murabaha facility granted to one of Turkey’s leading textile conglomerate.
  • Acted for Nasmed Özel Sağlık, the operator of İzmir Egepol Hospitals, in its IPO at Istanbul Stock Exchange.

Akol Law

The ‘dependable and responsible‘ team at Akol Law is best known for its strength in capital markets advice, though has also acted in a number of recent refinancings in Turkey. For capital markets, practice head Meltem Akol is the contact to note, tending to focus on the equity side and experienced in domestic and international IPOs, Eurobond issuances, lease certificate and warrant issues, and capital markets regulatory matters. Tuğçe Tatari, who focuses on cross-border and local acquisition financing, restructurings and strategic investments, is also a partner-level contact, while senior associate Onur Küçük supports on the range of matters across banking finance and capital markets.

Practice head(s):

Meltem Akol


Other key lawyers:

Tuğçe Tatari; Onur Küçük


Testimonials

‘Accessibility and integrity of the team is unique. Partner engagement essential on all subjects. Dependable and responsible team members at all levels.’

‘Close interest to the deals, hardwork, good collaboration between teammates, kind and knowledgeable.’

‘Track record, diversified deal experience, hands-on execution at partner level, availability when needed.’

Key clients

Aztek Teknoloji


Borsa Istanbul


Halk Yatırım


Halkbank


Koroplast


Kocaer Çelik


Işık Plastik


Smart Güneş


TKYB


TSKB


Turkish Sovereign Wealth Fund


Kıraç Gayrimenkul


Work highlights


  • Acted for Aztek Teknoloji Ürünleri Ticaret in its initial public offering and listing on Borsa Istanbul, including the sale of shares by the company’s controlling shareholders, and a capital increase.
  • Advised rolled steel producer Kocaer Çelik Sanayi ve Ticaret on its IPO and listing on Borsa İstanbul.
  • Acted for Koroplast Temizlik Ambalaj Ürünleri Sanayi ve Dış Ticaret A.Ş. in its IPO and listing on Borsa İstanbul.

Çakmak Attorney Partnership

The ‘dedicated, responsible and practical‘ team of lawyers in Çakmak Attorney Partnership‘s banking and finance department are sought after by banks, both directly and via international law firms, for syndicated loans, regulatory advice and transactions. On the financing front, the team is especially experienced in the energy sector and has participated in financing deals for coal-fired power plants and renewable energy facilities alike. Mustafa Durakoğlu is an up-and-coming partner with expertise in energy sector financing and payments industry matters. He heads the department alongside Devrim Ergun, who has acted for international investment banks and domestic issuers in structured finance transactions, and is the name to note for debt capital markets. Senior figure Mesut Çakmak is a key name in project financing.

Practice head(s):

Mustafa Durakoğlu; Devrim Ergun


Other key lawyers:

Mesut Çakmak; Gülşen Engin; Ayşe Eda Biçer Özen; Aslı Pabuççuoğlu


Testimonials

‘Cakmak is a full service law firm with experienced and solution oriented lawyers. The banking & finance team has both extensive knowledge and also expertise. I like their tailor made legal advice and openness to create new ideas.’

‘Always dedicated, responsive and practical. Mustafa Durakoğlu and Gülşen Engin stand out.’

Key clients

Bank Julius Baer


Bank of America Corporation


Bayerische Landesbank (BayernLB)


Ceska Exportni Banka


European Bank for Reconstruction and Development (EBRD)


Entek Elektrik Üretimi A.Ş. (subsidiary of Koç Holding)


ERG Group


Garanti BBVA and Bayerische Landesbank (BayernLB)


Turkey Wealth Fund


Visa Europe


Western Union


Landesbank Baden – Württemberg and KFW IPEX – Bank


Rönesans Holding


Gama Holding and Türkerler


Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi UFJ, Ltd., Siemens Bank GmbH and Banca IMI S.p.A.


International Finance Corporation


Work highlights


  • Advising BayernLB and Garanti BBVA on the financing of the acquisition, construction and operation of three wind power plants.
  • Advising the documentary agent and the syndicate of banks in relation to an ESG linked unsecured syndicated term loan facility to Akbank for general corporate purposes.
  • Advising Ceska Exportni Banka on the provision of export financing to Adularya Enerji Elektrik Üretimi ve Madencilik for construction of a coal-fired thermal power plant in Turkey.

CCAO

CCAO is a reliable choice for domestic banks looking for advice on financings, acquisitions, project finance and refinancing. The practice has a number of major Turkish financial institutions on its client list, Türkiye İş Bankası being a notable recent addition. The team also acts for other investors, and while its lender-side counsel is its forte, the team also has experience acting for borrowers, recently in the renewable energy sector. Onur Taktak, Candemir Baltalı and Begüm Yörükoğlu spearhead the department, with Onur Görkem Köksal the associate-level contact to note.

Practice head(s):

Onur Taktak; Candemir Baltalı; Begüm Yörükoğlu


Other key lawyers:

Onur Görkem Köksal


Testimonials

‘Team is very important because to find people available when needed was crucial for us especially during pandemic. there are competent and problem solving team members, who are also updated about rapidly changing regulations.’

‘We mainly worked with Candemir Baltalı who was always helpful and reachable when needed. he suggested to apply new regulations to one of our cases and we managed to solve very important loan issue through his applications. he knows legal points of restructuring and refinance very well.’

‘CCAO is one of the most professional legal firm that I have worked with. They have overcome many issues with high degree of difficulties with a specific banking related legal structure. Their advises were unique and beneficial.’

‘All the team members were professional with full dedication. I really appreciate the way they approach the assignment.’

‘The team is exceptionally knowledgeable about so many aspects of Turkish law; they give unified advice which is practical and commercial – and delivered in a clear format.’

‘Onur Taktak and Candemir Baltali are both stand-out partners. They give excellent advice which is sensitive to the needs of the client. They are very clear in their recommendations, and they legal reviews focus on the key issues – meaning negotiation time is kept to a minimum. I have always been very pleased to work with them.’

‘The team of CCAO is highly qualified, always responsive and always delivers best quality within the applicable deadlines.’

‘Most of my work is done with Begüm Yörükoğlu and/or Onur Tak Tak and/or Candemir Baltalı on the partner level. All of them our outstanding lawyers with a deep commercial understanding of the projects.’

Key clients

JP Morgan Chase Bank NA


Citibank, NA


Vakıfbank


Ziraat Bankası


Dogan Holding A.Ş.


Çelebi Holding A.Ş.


DenizBank A.Ş.


Türkiye Halk Bankası A.Ş.


Rönesans Holding


ING Bank NV


Garanti Bank BBVA


Credit Europe Bank N.V.


Akbank AG / Akbank T.A.Ş.


Fibabanka A.Ş.


Türkiye İş Bankası A.Ş.


Overseas Development Corporation


Gencer Holding A.Ş.


Timur Gayrimenkul A.Ş. (NEF)


Work highlights


  • Advising T. İş Bankası, the largest private bank in Turkey, and Türkiye Sınai Kalkınma Bankası, on funding for a $135m acquisition of Gensenta İlaç by EİS Pharmaceuticals.
  • Represented Denizbank on the $76.5m facilities advanced to Çelebi Group for the financing of acquisition of concession rights in relation to Bandırma Port and re-financing the loans granted by Unicredit and Yapı Kredi.
  • Advised Akbank on funding for a $35m acquisition of Brightstar Turkey by Arena, a publicly listed subsidiary of Redington.

Özdirekcan Dündar Şenocak Ak

Banking matters are the focus of Özdirekcan Dündar Şenocak Ak‘s department, drawing on the international network of its affiliate firm Gide to forge relationships with local and foreign banks, and international financial institutions. Regulatory advice, cross-border financing and aircraft financing were all features of the practice group’s work in 2022. The main contacts are Arpat Senocak and Bülent Özdirekcan, who co-lead the team, and client-recommended associate Mehmet Kösoğlu.

Practice head(s):

Arpat Şenocak; Bülent Özdirekcan


Other key lawyers:

Mehmet Kösoğlu


Testimonials

‘With the size of a boutique law firm, the firm is able to provide full-service due to its highly-trained workforce.’

‘Bulent Özdirekcan is an exceptional partner, with his ever-caring approach and humane touch. He is dedicated, smart, and efficient.

‘Mehmet Kösoğlu is one of the most knowledgeable banking & finance lawyers we have ever encountered. Anything involving banking, finance, or contract law falls under his ambit with a great degree of knowledge.’

Key clients

Société Générale


BNP Paribas


Skandinavska Enskilda Banken


AFD


ALD 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


Altilis


Work highlights


  • Advised Société Générale Milano on a 10-year Italian lease, combined with a 10-Year AFIC supported loan and a 5-Year junior loan, for the financing of a Boeing B777-Freighter aircraft to be delivered to Turkish Airlines.
  • Advised Türkiye Sigorta on the structuring and negotiation of bancassurance agreements with three Turkish state-owned banks.
  • Advised Union Bancaire Privée on compliance matters arising from its operations in Turkey.

TURUNÇ

The banking and finance practice at TURUNÇ is praised for its ‘excellent knowledge of local regulations‘ and excels in regulatory and compliance advice in the field. Its client base features a wealth of multinational companies operating in Turkey, as well as private equity funds and financial institutions. Syndicated finance transactions are a further standout strength for the practice, while the department also offers capital markets expertise on both debt and equity matters. Founding partner Noyan Turunç co-heads the department with Kerem Turunç, who ‘has wide knowledge of the sector and has an extensive network‘; seasoned transactional lawyer İltem Dokurlar; and counsel Ilgın Eroğlu Alyanak who splits her time between Istanbul and the firm’s office in Washington DC.

Practice head(s):

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


Testimonials

‘Vast experience on capital markets. Detailed and comprehensive feedback on legislation and application.’

‘Kerem Turunc: Exceptional experience, analytical outlook on matters, concise approach. Naz Esen: Exceptional experience, analytical outlook on matters, concise approach.’

‘We’re a fast-moving technology company so we need to work with outside advisors who will move at our speed. Turunc fulfills and exceeds that expectation. I’ve worked with many top London law firms and Turunc is no different from any of them in terms of responsiveness, business acumen and the quality of the advice. They have deep knowledge of legislation, in all of Turkey, the UK and the US. All around great experience.’

‘Kerem Turunc knows European 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. We recently started working with Iltem Dokurlar and Naz Esen. Iltem is a problem solver and Naz is an incredibly dedicated and hard-working lawyer.’

‘They quickly understood the company’s business and gave rapidly quality advice. They have demonstrated that they have an excellent knowledge of local regulations and know the local ecosystem. For each new challenge we have presented to them, they have shown outstanding professionalism and dedication to their clients.’

‘Kerem Turunç has wide knowledge of the sector and has an extensive network. He also contributes to the development of his team.’

‘Turunç team perfectly understands client needs and develop tailor-made solutions.’

‘The Turunç team is a well-established, well-informed team that is led by very experienced lawyers. They are always up to date on the legislation and market practice. Their strong business acumen allows them to provide ongoing regulatory advice while knowing what the client needs from a commercial perspective as well. This way, they are able to provide solid transactional advisory which distinguishes them from firms that simply provide regulatory guidance.’

Key clients

Netcad


Taxim Capital


Boğaziçi Ventures


beWise


Inveo Portföy


hiVC


Lycian Capital


İş Investment Trust


Banco Santander


DeepZen


Caffè Nero


Regions Bank


SC Johnson


İş Private Equity (İş Girişim)


Vinci Venture Capital


Camper Shoes


Android Industries


Work highlights


  • Acting for Netcad and Taxim Capital, Netcad’s majority shareholder, in Netcad’s planned initial public offering for approximately ₺650m.
  • Advised Lycian Capital on the formation of its Capital Markets Board-regulated private equity fund.
  • Advised Inveo Portföy on the formation of Birinci Gaming ve E-Sports Girişim Sermayesi Yatırım Fonu, a Capital Markets Board-regulated venture capital fund focused on gaming and e-sports investments.

YBK Law Firm in Cooperation with CMS

YBK Law Firm in Cooperation with CMS leverages its relationship with the international firm in advising domestic and international parties on cross-border financing, financial restructuring, debt and equity capital markets work. Borrower and lender parties both frequently seek counsel from the team that is co-led by capital markets expert Hülya Kemahlı, and Alaz Eker Ündar, who focuses on syndicated and structured loan arrangements, as well as project finance in Turkey. Counsel Arcan Kemahlı works across both banking and capital markets matters, while associate Zeynep Berin Manavgat is a further name to note.

Practice head(s):

Hülya Kemahlı; Alaz Eker Ündar


Other key lawyers:

Arcan Kemahlı; Zeynep Berin Manavgat


Testimonials

‘YBK’s capital markets team is highly responsive and particularly sophisticated. It is definitely a go-to team for Turkish capital markets issues.’

‘Arcan Kemahli is very accommodating and always responds to even the most complicated requests in a timely manner. He and the rest of his team are a pleasure to work with.’

‘Good quality adviser in the Turkish loan market.’

Key clients

Kalekim Kimyevi Maddeler Sanayi ve Tic. A.Ş.


Hitit Bilgisayar Hizmetleri A.Ş.


Agence Française de Développement (AFD)


DENİZBANK


Denizbank AG


Work highlights


  • Provided Kalekim legal assistance on day-to-day corporate and capital market law matters.
  • Assisted Hitit with the amendment of its article of association and with its initial public offering.
  • Advised AFD on private placement of the green bond issued by Tükiye Kalkınma Yatırım Bankası (TKYB).

Cigdemtekin Cakirca Aranci Law Firm

Capital markets transactions and regulatory advice in the banking sector are the cornerstones of the banking and finance practice at Cigdemtekin Cakirca Aranci Law Firm. Payment solutions and software development have been recent sectors of increase activity for the practice, whose client list includes leading domestic names in a variety of industries. Corporate finance lawyer Gamze Çiğdemtekin Özer and Tuna Çakırca Engur, who is well-versed in advising major companies, are the practice heads.

Practice head(s):

Gamze Çiğdemtekin Özer; Tuna Çakırca Engür


Key clients

EGESIM Group


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


Onlayer Bilişim Teknolojileri A.Ş.


Barakatech Yazılım Sanayi ve Ticaret A.Ş.


Work highlights


  • Advising Franklin Templeton on capital markets and regulatory relevant to its group companies in Turkey.
  • Assisting Verifone in Turkey with day-to-day advice 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

Gen Temizer Ozer acts for a mix of banks, local borrowers and alternative capital providers, its association with global firm Kinstellar making it a strong choice for international financing deals. Energy project financing and acquisition debt in the context of M&A are two of the standout areas of strength for the team that is jointly led by Edmund Emre Özer and Müfit Arapoğlu. Supporting the practice heads are Baran Gen, Mert Elçin and Dila Topuz.

Practice head(s):

Edmund Emre Özer; Müfit Arapoğlu


Other key lawyers:

Baran Gen; Mert Elçin; Dila Topuz


Testimonials

‘They can provide in house English law advice, which is a very rare capability of law offices in Turkey. Even though the transactions are Turkish law governed, in most cases, the drafts are based on or originate from English law documents, and GTO is always perfectly aware of the legal implications of their provisions and they are able to provide clear and concise advice about the key legal issues.’

‘I have mostly worked with Baran Gen and Mert Elçin. Both have been very responsive and quick to act and helped us incredibly to close the deal smoothly. The deal involved especially in the last month a contract racing process (which is rare in Turkish market). They needed to carefully orchestrate the whole process and negotiate and draft simultaneously with more than one bidder.’

‘Baran Gen: first class legal knowledge and practical deal-making skills. She puts the focus on the transaction to make sure it is done in the right way.’

‘Edmund Emre Özer is an excellent lawyer with immense experience in international transactions.’

‘Mufit Arapoglu is great to work it: experienced yet very approachable partner.’

‘Müfit Arapoğlu leads the capital market transactions, he has an exceptional knowledge of the legislation and has great accessibility.’

‘We have worked with Gen Temizer Özer for our firms’ capital market process. Especially, explaining the whole process very clearly, following the all process owner responsibilities, leading the our firms, solution oriented behaviours, these features are Gen Temizer Özer’s team strengths. In addition to strengths, They worked neatly and worked with focusing on deadline.’

‘The most important thing for us, they made us feel like we are team. Müfit Arapoğlu and Dila Topuz managed not only capital markets process but also due diligence process at the same time. Moreover, They always behave accessible. Thanks to Müfit Arapoğlu and his team approach, very difficult process became easy.’

Key clients

Commerzbank AG


Partners for Growth


Fund of Problem Loans


DNB Bank and Nordic


Torunlar Group and Baskent Gaz


Mercedes-Benz Türk Finansman A.Ş.


Work highlights


  • Advised Commerzbank on a $24m export financing to Atakaleres Electrics for the delivery and installation of wind turbines by Nordex.
  • Assisted Commerzbank with the $31m export financing provided to Esyel Global Energy for the delivery and installation of wind turbunes by Vestas.
  • Advised Baskent Gaz and Torunlar Group on its acquisition of 50% of Akcez.

Goksu Safi Isik Attorney Partnership

Ali Göksu and Fatma Gözde Kardes jointly spearhead the banking and finance department at Goksu Safi Isik Attorney Partnership, commended as ‘dedicated, cooperative and always constructive‘. The team’s work has a heavy transactional focus, be it in various types of financing, or transactions involving capital markets elements. Clients include a mix of domestic and international companies across a range of sectors.

Practice head(s):

Ali Göksu; Fatma Gözde Kardes


Testimonials

‘GSI Team is dedicated, cooperative and always constructive. When it comes to information security, thinking out of box, providing technology oriented innovation, we can say the service they provide is beyond any appreciation.’

‘Each team member has local and international experience in their field and give comfort to their interlocutor.’

‘The team is very productive, very good at time management, exceptional quality of communication, a harmony is visible among the team members.’

‘No issues with time management, very polite and kind. Also very supportive and proactive.’

Work highlights


  • Advised Sasa Polyester on issuing Eurobond bonds and the first convertible bond in Turkey.
  • Assisted Great East Capital with obtaining the second digital banking licence in Turkey.
  • Advising Bank of China on all aspects of banking regulations in Turkey.

Güner Law Office

The ‘organised, quick and knowledgeable‘ banking and finance practice at Güner Law Office has a recent focus on international financing of greenfield and brownfield mine projects in Turkey, acting on both borrower/sponsor and lender sides. The practice has strong relationships with major international lenders, working closely with a number of international firms to facilitate cross-border financing. Burçak Kurt Biçer heads the practice and is the primary contact.

Practice head(s):

Burçak Kurt Biçer


Testimonials

‘Their team is organised, quick and knowledgeable. They provide heads-up on regulatory developments and can be relied upon for support for non-standard tasks. They also provide very helpful legislative updates.’

‘Good team performance.’

‘The Guner team always demonstrate good market knowledge and understanding of the key legal issues in a commercial context.’

‘Guner always respond promptly and show great flexibility to adapt to the demands of the particular transaction.’

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.


CENTERRA LUXEMBOURG HOLDINGS S.À R.L. , CENTERRA EXPLORATION B.V.


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, in connection with facility agreement of €210m.
  • Acted for Export-Import Bank of China in the export buyer credit loan agreement between Export Import Bank of China as the lender and Vakıfbank as the borrower.
  • Advised Centerra Luxembourg Holdings and Centerra Exploration 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

Lexist Law Firm excels in assisting companies operating in heavily regulated sectors, including banking and finance, where it has particular expertise in project financing, financial restructurings, advice on new law, and first-of-their-kind set-ups. Murat Erbilen is the main contact, heading the banking and finance department, as well as the corporate and energy practices. Recently promoted partner Mesut Kaya supports on secured lending, project finance and electronic money regulatory issues, while associate Meysa Yamakoğlu is also recommended.

Practice head(s):

Murat Erbilen


Other key lawyers:

Mesut Kaya; Meysa Yamakoğlu


Testimonials

‘The team was quick, communicative, focused.’

‘Murat Erbilen handled our deal. It was sensitive and at a time where most lawyers were not available. Murat was always on top of things and directed his team perfectly so we could meet our deadline.’

‘Murat Erbilen and his team were quick, responsive and knowledgeable on what had to be done in changing market conditions.’

‘We are very happy with Lexist because they are responsive and always meet our needs.’

‘Murat Erbilen was the partner in charge of our latest transaction. It was a pleasure to work with him and his team. Their commercial awareness is unusual in Turkey. My team enjoyed our interactions.’

‘I have worked on a number of transactions with Murat Erbilen as partner. All of these transactions related to the finance of airport facilities in the cargo sector. Murat was always extremely responsive, never missed any deadline, and always delivered highest quality, based on a deep legal and commercial understanding. It always has been a great pleasure to co-operate with Murat and his team.’

‘Partner Murat Erbilen led all our matters. He knows how to get the job done. We also relied on associate lawyer Meysa Yamakoğlu who worked so hard and never dropped the ball.’

‘Murat Erbilen leads the team and is always extremely strategic in helping us realise our projects.’

Key clients

DZ Bank


Work highlights


  • Advising a client on the set-up of a retail electronic money operation amid a developing regulatory framework, including the establishment of several companies.
  • Advising a developer on the development of the regional mega-project Istanbul Financial Centre (IFC) (a project to create a New York style financial hub) – projected at $10bn.
  • Advising DZ Bank on an ECA financing extended to the borrower active in the airline sector.

Moroglu Arseven

Moroglu Arseven is relied on by its client base of international mid-cap companies looking for assistance with transactional matters. Deals involving uniquely structured securities are a particular strength of the practice, which is led by experienced partner Seyfi Moroğlu, who acts for venture capital funds, banks and syndicates, insurers and reinsurers, and not-for-profits. Burcu Tuzcu Ersin has notable, broad business law expertise, and Hazal Baydar is strong on the corporate transaction side. Sevi İslamageç supports at senior associate level.

Practice head(s):

Seyfi Moroğlu


Other key lawyers:

Sevi İslamageç


Work highlights


Namli & Kayum & Demir Attorney Partnership

Namli & Kayum & Demir Attorney Partnership has strong capabilities in the banking, finance and capital markets arena, working with a range of clients from sectors including financial services, energy, infrastructure, shipping, telecoms, media, entertainment and real estate. Practice head Kaan Demir  has expertise in M&A, joint ventures, corporate governance and disputes, while managing partner Begüm Kayum specialises in M&A, corporate restructuring and commercial affairs.

Practice head(s):

Kaan Demir


Other key lawyers:

Begüm Kayum


Testimonials

‘The team is exceptional in their capital markets and finance expertise. They know the capital markets, banking and finance legislation to the utmost detail and they have the commercial understanding of the workings of both the capital markets and finance. They are always responsive, quick to respond but always as a product of good legal deliberation. We are very happy with the team.’

‘The team is simply excellent. They have singlehandedly reformed our corporate and financial structure. They are very skilled and adept in capital markets and finance matters.’

‘They have a profound understanding of the capital markets, its legislation and institutions so we can entrust them with both our capital markets operations and regular-periodical capital markets compliance matters. Adding to their expertise in the law, their ability to steer negotiations with the capital markets board and understand the board’s concerns to address them makes everything considerably more expedient.’

‘Experience and efficiency in addressing clients’ needs.’

Key clients

Consus Enerji İşletmeciliği ve Hizmetleri A.Ş


Pera GYO A.Ş


Yatırım Holding A.Ş


Naturelgaz Sanayi ve Ticaret A.Ş


Work highlights


  • Advised Consus Enerji İşletmeciliği ve Hizmetleri A.Ş. in the initial public offering of its shares on Borsa Istanbul for 519.8 million Turkish liras.
  • Advised Naturelgaz Sanayi ve Ticaret A.Ş. in the initial public offering of its shares on Borsa Istanbul for 293.3 million Turkish liras.
  • Advised Global Yatırım Holding A.Ş. in their paid capital increase throughpublic offering worth 324.1 million Turkish liras on Borsa Istanbul.

ÖzmenYalçin

ÖzmenYalçin was established in March 2022 by a team of capital markets law experts that moved from Akol Law. The team has been active in a large number of IPOs in the Turkish market in that time, continuing their focus from their previous firm, while also having a robust share of the debt capital markets work in country. Ömer Gökhan Özmen and Güneş Yalçın share leadership of the department, with support coming from counsels Handan Bacıoğlu, Murat Ayyıldız and Damla Keskin Şerbetcioğlu.

Practice head(s):

Ömer Gökhan Özmen; Güneş Yalçın


Other key lawyers:

Murat Ayyıldız; Damla Keskin Şerbetcioğlu; Handan Bacıoğlu


Testimonials

‘The people at Ozmen Yalçın are very strictly dedicated to their work and the quality of the output. They are very easy to collaborate and work with.’

‘Individuals are very experienced and well educated. They also have a very strong ethical policy.’

‘All of the employees in the law firm are highly professional and expert lawyers. The most experienced team in the sector, especially in public offering, works in this company.’

‘Their communication with public officials during the public offering process is very strong. They made a great contribution to solving the problems by anticipating the problems that will arise during the process from the beginning.’

‘Team is very competent, has deep knowledge about the local banking and finance practice and capable of close collaboration with international law firms.’

‘Ömer Gökhan Özmen and Güneş Yalçın stand out with their commitment for customer satisfaction, flexibility, delivering tailor made solutions to unique problems.’

Key clients

Kimteks Poliüretan Sanayi Ticaret A.Ş.


Europen Endüstri İnşaat Sanayi ve Ticaret A.Ş.


Kiler Holding A.Ş.


Türkiye Vakıflar Bankası T.A.O.


Türkiye İş Bankası A.Ş.


QNB Finansbank A.Ş.


T.C. Ziraat Bankası A.Ş.


Şekerbank T.A.Ş.


Türkiye Sınai Kalkınma Bankası A.Ş.


Yapı ve Kredi Bankası A.Ş.


Tarfin Tarim Anonim Şirketi


Emlak Konut Gayrimenkul Yatırım Ortaklığı A.Ş.


Zorlu Enerji Elektrik Üretim A.Ş.


Palmet Gaz Grup A.Ş.


Toplu Konut İdaresi Başkanlığı


TVF İFM Gayrimenkul İnşaat ve Yönetim A.Ş.


Adnan Polat Enerji Yatırımı A.Ş.


Work highlights


  • Advised Kimteks Poliüretan on its initial public offering and capital markets compliance.
  • Advised Türkiye Sınai Kalkınma Bankası on the call option of its $500 Million Tier 2 Notes maturing in 2022 and an additional $200m Tier 1 loan.
  • Assisted Tarfin Tarim, as the Originator, and Türkiye Kalkınma ve Yatırım Bankası, as the Intermediary Institution, with a sukuk issuance amounting to ₺800m.