Hall Of Fame

Firms To Watch: Banking, finance and capital markets

Aksan Law Firm continues to build on its growing reputation in the venture capital and start-up space, where it acts for funds and investment vehicles of major banks and holding groups in Turkey.
EVG Attorney Partnership covers banking, finance and capital markets work for clients from the real estate sector among others.
Transport specialist Ersoy Bilgehan Lawyers & Consultants stands out for its niche strength in shipping finance, including asset finance, project finance, restructurings and sale-and-leaseback transactions.
Noted for its emphasis on capital markets work, LBF Partners advises a mix of issuers and brokerage houses on regulatory compliance and transactional matters.
Özok Law Firm takes on project, acquisition, structured, Islamic and corporate finance matters, as well as overseeing regulatory issues for financial institutions.
Solak & Partners Law Firm is distinguished by its focus on the technology sector, including digital banking, e-payment services and blockchain.

Firms in the Spotlight Banking, finance and capital markets

LBF Partners

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

The full-spectrum banking, finance and capital markets group at Balcioglu Selçuk Ardiyok Keki is recognised for its strength in unsecured interbank loan facilities (syndicated and bilateral), where it draws on complementary expertise in foreign exchange rules, tax and dispute resolution. Among its other key attributes, the wider firm’s association with the Dentons international network is also a significant draw, particularly for multinational clients. Barlas Balcioğlu co-heads the group and maintains a broad banking and finance practice with a focus on project finance transactions, where he primarily acts for lenders. The department is additionally co-led by Günhan Yalçın and Burcu Boso, both of whom bring to bear over 20 years of experience in representing lenders and borrowers on an array of banking and finance matters. Counsel Ceyda Aydın and senior associate Ceren Akkur Bayram provide specialist support.

Practice head(s):

Barlas Balcıoğlu; Günhan Yalçın; Burcu Boso

Other key lawyers:

Ceyda Aydın; Ceren Akkur Bayram; Cenk Yılgor; Selahattin Kaya


‘The team is very hard-working and hands on. We highlight Burcu Boso, who is hard-working, hands-on, very reachable, and very knowledgeable.’

‘The team performs very well and has a very strict organisation method, which is very efficient. Things arrive in a simple and organised manner, and we never have any doubts regarding what the team has done – everything is very clear-cut and detailed.’

‘I recommend Günhan Yalçın. Günhan and his team deliver their responses in a timely manner, even if the tasks or requests from the client are given very urgently. Their analysis was well-prepared and met our needs.’

‘The team ensures the closing of projects swiftly and smoothly with its deep expertise in its field.’

‘Burcu Boso, thanks to her leadership qualities, directs her team in line with client needs, carries out negotiations with counterparties skillfully, and inspires confidence with her deep legal knowledge.’

‘What differentiates this firm from others is its commitment to personalisation. Each case, no matter how big or small, is treated with unparalleled attention to detail and a tailored approach. Lawyers understand that every client, every situation, and every legal challenge is different.’

‘Selahattin Kaya and Burcu Boso are the partners that I worked with and both stand out for their genuine passion for the law. This is evident not just in their exhaustive knowledge, but in how they approach each case with fervour and determination. They constantly strive for the best outcomes for their clients.’

‘In comparison to other firms, this team is exceptionally client-centric. Lawyers understand that behind every case, there’s a human story, and they never lose sight of that. Their ability to balance fierce advocacy in the courtroom with compassionate guidance for their clients sets them miles apart.’

Key clients

Marport Liman İşletmeleri Sanayi ve Ticaret

Landesbank Baden-Württenberg

Natwest Group, The Royal Bank of Scotland

Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO)

Sunrise Foods International

Tiryaki Agro Gıda ve Sanayi Ticaret

Tiryaki Holding


Bank of America Europe DAC

Mizuho Bank

Emirates NBD Capital


Yapı ve Kredi Bankası

Oesterreichische Entwicklungsbank

Aareal Bank

Credit Europe Bank

Sberbank (Switzerland)

Kiva Capital Management

REYL & Cie

AK Bars Bank


Black Sea Trade and Development Bank

Zürcher Kantonalbank

Göltaş Enerji Elektrik Üretim

HSBC Bank Middle East


Investment Fund for Developing Countries

Bank of China Turkey

Marelli Holdings Co.

ING Bank

Hedef Araç Kiralama ve Servis

Akfen Holding

Akfen Yenilenebilir Enerji

Test Taşıt Muayene İstasyonları Yapım ve İşletim

CIFTCI Attorney Partnership in association with Clifford Chance

The internationally oriented team at CIFTCI Attorney Partnership in association with Clifford Chance acts for an impressive roster of domestic and foreign financial institutions, including commercial banks, and bilateral and multilateral development agencies. Demonstrating a marked emphasis on project finance, the team is primarily noted for its expertise in the infrastructure, healthcare and energy sectors, where it frequently acts in tandem with lawyers from the wider Clifford Chance network. Alongside its projects prowess, the group’s recent experience also spans syndicated financings, Islamic finance, structured finance and capital markets work. Department head Sait Eryılmaz handles a broad range of banking and finance matters, with a focus on project finance and structured finance. At junior level, counsel Gökçe Uzun and senior associates Başar Kırka and Ali Can Altıparmak are all recommended.

Practice head(s):

Sait Eryılmaz

Other key lawyers:

Gökçe Uzun; Başar Kırka; Ali Can Altıparmak


‘Highly professional, open to communicate, easy to access at any time, well experienced, and supportive.’

‘Each individual in the team is very dedicated and professional. Lawyers are very supportive and it is obvious they are doing their work with great dedication. One of their key strengths is client management skills.’

Key clients

UK Export Finance (UKEF)

TAV Havalimanları Holding

Rönesans Holding


Credit Suisse

Standard Chartered Bank

Leading Turkish banks: Ziraat Bank, Akbank, Yapı Kredi, İşbank, Garanti BBVA, Türkiye Sınai Kalkınma Bankası, Denizbank, QNB Finansbank, Türkiye Kalkınma ve Yatırım Bankası

FMO: Dutch Entrepreneurial Development Bank

TAV Tunisie




Invest International


TurkExim Bank



Emirates NBD

Export Development Canada


Fraport Frankfurt Airport Services


China Development Bank

Türkiye Wealth Fund


Uludağ Energy

Work highlights

  • Advising JP Morgan, UKEF and other lenders on the ECA-backed financing of the Mersin-Adana-Osmaniye-Gaziantep high-speed rail project.
  • Advising the joint venture (comprised 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.
  • Advising Ziraat Bank, Akbank, Yapı Kredi and İşbank on the secured syndicated financing of the Aydın-Denizli Motorway Project.

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

During 2022, Esin Attorney Partnership, a Member Firm of Baker McKenzie International, a Swiss Verein doubled the number of partners in its banking team with the arrival of Simon Morgan, who joined from the Moscow office of affiliate firm Baker McKenzie. The lender-focused group continues to stand out for its strong relationships with major domestic and multinational financial institutions such as JP Morgan, HSBC and Akbank. It also routinely acts for corporations – both as borrowers and also as issuers in capital markets offerings. High-profile sector specialist Muhsin Keskin anchors the department and leverages strong skill sets in regulatory and transactional banking, finance and capital markets work; he also spearheads the fintech practice. Also noted is senior associate Zeki Nizam Cebe, who has recently advised international and Turkish banks on various infrastructure projects.

Practice head(s):

Muhsin Keskin

Other key lawyers:

Simon Morgan; Zeki Nizam Cebe; Büşra Cavas


‘Muhsin Keskin has deep knowledge of banking and finance law. He has the ability to address complex situations and explore new structures. Also, while making the necessary assessment to find legal solutions, he considers business’ needs as well. He is really client friendly, always accessible and hard working’

‘The team is responsive and robust. Muhsin Keskin has a good understanding of business needs.’

‘Muhsin Keskin is one of the best lawyers in Turkey in banking, finance and capital markets.’

‘We value the team for its strong expertise and prompt responses.’

‘Muhsin Keskin is very qualified and experienced. He also manages the team perfectly to provide the sufficient legal support.’

‘The firm always provides a concise team to directly address clients’ needs on projects. This approach allows it to be more competitive in the market billing-wise. Muhsin Keskin is almost always available when you pick up the phone, giving you the comfort that the deal is taken care of.’

‘The team was fast, knowledgeable and very experienced. Muhsin Keskin supported us by taking over an entire job in a short time. With his experience and command of English law, he helped us to reach a solution in a short time.’

Key clients

JP Morgan

Société Générale

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

BNP Paribas Fortis



Intesa Sanpaolo



Raiffeisen Centrobank


Bank ABC

Arab Bank

The Export-Import Bank of China

Sumitomo Mitsui Banking Corporation

ING Bank


Pasha Bank

Habib Bank


QNB Finansal Kiralama

Yapı Kredi Finansal Kiralama

Gramercy Fund Management

Abraaj Capital

Koç Holding

Work highlights

  • Advised an extensive list of multinational financial institutions, as lenders, on a €790m term loan facility provided to the Türkiye Wealth Fund and guaranteed by the Republic of Türkiye Ministry of Treasury and Finance.
  • Advised Denizbank on a $610m financing with a term of up to seven years provided by several investors, including EBRD, IFC and Proparco, under Denizbank’s Diversified Payment Rights Programme.

GKC Partners (in professional association with White & Case)

GKC Partners (in professional association with White & Case) is lauded for its ability to ‘solve problems proactively’, while its wider international footprint is also a significant differentiator. Combining standalone offerings in both capital markets and banking and finance, the firm has been particularly active of late in restructurings as well as financings involving the infrastructure, energy and real estate sectors. Güniz Gökçe spearheads the banking and finance practice and leads on the department’s flagship transactions, where she represents lenders, including multilaterals, and corporate borrowers on a range of domestic and cross-border financings. Derin Altan fronts the capital markets group and handles both debt and equity offerings for a mix of issuers and underwriters. Other key names include increasingly prominent finance specialist Ateş Turnaoğlu and structured finance partner Gökçe Uluç.

Practice head(s):

Güniz Gökçe; Derin Altan

Other key lawyers:

Ateş Turnaoğlu; Gökçe Uluç; Kaan Alkan


‘The team is always available and guides us through various complicated commercial discussions. It also has a great network to solve problems proactively. Lawyers understand the key points and guide us through legal discussions with lenders and their counsel.’

‘Ateş Turnaoğlu has strong business acumen and explains legal reasoning in an exceptional manner. He also provides business insight that is very valuable for our commercial discussions. He follows up the open points to resolve problems.’

‘Kaan Alkan is an exceptional associate who translates our strategy/comments into the legal framework and follows and guides us if there are any commercial discrepancies. He is also very fast on formulating legal documents that are agreeable to both parties.’

‘We value its specialised expertise. Partners excel in delivering legal services across banking, finance, and capital markets, addressing the intricate needs of their clients. The team sets the standard with its unparalleled expertise, innovative solutions, and commitment to client satisfaction, diversity, etc.’

‘Ateş Turnaoğlu demonstrates extensive knowledge and proficiency in banking and finance law, handling complex transactions, regulatory compliance issues, and financial disputes with unparalleled acumen. His keen understanding of both domestic and international financial regulations sets him apart.’

‘We highlight the team for its fair pricing, the quality of the junior squad and the behaviour of its partners.’

‘The team is very responsive at almost every stage of our deals. Moreover, considering our endless questions, it does not choose to charge additional payment. Partners are well equipped and seasoned lawyers.’

Key clients

European Bank for Reconstruction and Development (EBRD)

International Finance Corporation (IFC)

Asian Infrastructure Investment Bank (AIIB)

Türkiye Garanti Bankası (Garanti BBVA)

Türkiye Vakıflar Bankası TAO


Borusan EnBW Enerji Yatırımları ve Üretim


T.C. Ziraat Bankası

Work highlights

  • Represented Borusan EnBW Enerji in the $600m financing of its renewable energy portfolio; the loan will also facilitate a corporate reorganisation.
  • Represented EBRD on a convertible loan of up to €75m to Rönesans Sağlık Yatırım to finance capital expenditures of its hospital infrastructure investments, including completing the newly acquired hospital project, Gaziantep Healthcare PPP.
  • Represented IFC on a proposed investment in Arçelik, which consisted of an unsecured dual-tranche corporate loan of up to €150m.

Gedik & Eraksoy

Clients of Gedik & Eraksoy’s banking, finance and capital markets group benefit from its ability to operate as a standalone practice, while also being able to link up with the Istanbul office of associate firm A&O Shearman. A popular choice for major financial institutions based in the US, Europe, the Middle East and Asia, the team handles a comprehensive spread of acquisition financings, syndicated financings, securities offerings, structured financings and regulatory issues, among other matters. Department co-head Hakki Gedik is sought after for his extensive experience in advising lenders and contractors on infrastructure and energy projects. Fellow co-head Umut Gurgey is highly regarded for his diverse banking and finance expertise, and senior associate Dilsah Gurses and associate Burak Ozsoy are also recommended.

Practice head(s):

Hakki Gedik; Umut Gurgey

Other key lawyers:

Adam Fadian; Dilsah Gurses; Burak Ozsoy

Key clients

Yapi Kredi

The European Bank for Reconstruction and Development (EBRD)


Work highlights

  • Acting for the lenders in relation to the acquisition financing of Turkey Wealth Fund’s $1.6bn purchase of LYY Telekomünikasyon’s 55% stake in Türk Telekom.


The team at Paksoy is distinguished by its ‘exceptionally strong eye for detail’, according to sources. Equally adept at handling sophisticated finance transactions and complex regulatory work, the full-service practice also impresses with its longstanding relationships with cross-border lenders –  including foreign banks – as well as major corporate borrowers. Sera Somay heads the banking and finance group and specialises in financings, fund-related investments and restructurings. The department additionally fields a dominant capital markets offering, which is steered by go-to specialist Ömer Çollak; he recently advised Ebebek on its headline-grabbing IPO on the Borsa Istanbul. Corporate finance specialist Ökkeş Şahan, recently promoted to partner, is also to note, while Beril Paksoy and ‘up-and-coming talentMerve Kurdak are highly regarded senior associates.

Practice head(s):

Ömer Çollak; Sera Somay

Other key lawyers:

Ökkeş Şahan; Beril Paksoy; Merve Kurdak


‘Paksoy is a highly dedicated firm. It has the outstanding ability to understand financial products and structured client needs. The team is well-connected in terms of networks and its clientele brings it diverse cases — hence it has never failed us in terms of extensive knowledge on any legal need.’

‘We value the team for its close client contact, punctual deadline management, and knowledge. Sera Somay is a top-notch partner and never fails.’

‘The team is knowledgeable on local Turkish law, and has vast experience in capital markets transactions. In addition, it is familiar with multilateral development banks, and their requirements, so its proposals take into account that aspect, making the process much smoother and efficient.’

‘Ömer Çollak was always on the ball and his advice was brimming with clarity. He really has an in-depth understanding of the Turkish market, both from a legal and commercial point of view.’

‘All team members have an exceptionally strong eye for detail that has been a benefit to our firm on more than one occasion. They are very focused and reply to questions as quickly as possible with answers and solutions to our problems.’

‘Each team member has a deep knowledge in the area in which they practise. They show the utmost care when reviewing and drafting documents to meet the needs of the client.’

‘Ömer Çollak inspires confidence, is well-grounded and solution-oriented. He understands what we look for and prioritise, and reconciles it with the counterparty’s request to find an agreement in tough negotiations. He is always available and reachable.’

‘Senior associate Merve Kudak also deserves praise as an up-and-coming talent in this market. She is helpful, takes initiative and provides excellent support when needed. She is attentive and punctual.’

Key clients


Asian Infrastructure Investment Bank (AIIB)

Canada Pension Plan Investment Board




Emirates NBD Bank

European Bank for Reconstruction and Development (EBRD)

Goldman Sachs


International Finance Corporation (IFC)

J.P. Morgan Securities


Nederlandse Financierings-Maatschappij voor Ontwikkelingslanden (FMO)

Turkish Ministry of Treasury and Finance

Türkiye Kalkınma ve Yatırım Bankası (TKYB, Turkish Development and Investment Bank)

Türkiye Sınai Kalkınma Bankası (TSKB, Industrial and Development Bank of Turkey)


U.S. International Development Finance Corporation (DFC)

Ziraat Investment Securities

Work highlights

  • Advised Ebebek on its IPO and listing on the Borsa Istanbul.
  • Advised IFC, DFC and AIIB on their $300m investment in Akbank’s Tier-2 sustainable and gender-linked bond placement.
  • Advised Ülker on a $195m sustainability-linked financing package with conventional and Islamic tranches.

ASC Law Office

ASC Law Office is a strong performer in representing Turkish and foreign lenders and borrowers on local law matters, as evidenced by the addition of eight new clients to the practice over the past year, including Turgut Aydın Holding and Eczacıbaşı Holding. Firm co-founding partner Okan Beygo anchors the team and is a 35-year veteran in the field; notably, he brings to bear significant in-house experience gained during stints at Citibank, Garanti Bank and Doğuş Holding. The three-partner department also includes Levent Yetkil and Ela Sarı, who are both well versed across a broad range of banking, finance and capital markets matters.

Practice head(s):

Okan Beygo; Levent Yetkil; Ela Sarı

Other key lawyers:

Fulya Sert Topçu


‘Our company operates in many diversified sectors, which means we deal with a great number of banking, finance and capital markets issues. To keep things in proper order, we need a strong and reliable solution partner who not only takes the burden, but also works in coherence with us. That is ASC Law Office.’

‘What impresses us most about ASC Law Office is its extensive knowledge of financing restructuring, facility agreements and banking operations.’

‘Levent Yetkil’s qualifications, education, background and client-friendly attitude are the specific attributes that impress us. Mr Yetkil and his team (consisting of very competent, highly skilled, constructive and cooperative members) have represented us on several banking and finance deals.’

‘Levent Yetkil is always available for any question at any time of the day, provides comprehensive legal advice and assistance on all aspects of the deal, prepares, drafts, negotiates and reviews all kinds of facility-related agreements and transactions.’

‘ASC stands out for its prompt, responsive, and accessible services, providing tailored solutions aligned with clients’ commercial interests. Its core strength lies in its specialised banking and finance team, offering unique insights and solutions.’

‘Levent Yetkil and Fulya Sert Topçu’s remarkable expertise, rapid responsiveness, outstanding negotiation and drafting abilities, and commitment to delivering efficient and business-oriented advice have made a significant impact on our collaboration.’

‘I have had the chance to work with two different partners on two different projects. Both partners, and their teams, provided outstanding work on their respective projects. It clearly shows that ASC Law Office consistently provides excellent services across the board.’

‘Levent Yetkil and Ela Sarı are easily accessible and up-to-date about the recent developments both in law and industry practices. Also both partners seemed to be well supported by qualified associates.’

Key clients

T.C. Ziraat Bankası

Türkiye İş Bankası

Türkiye Sınai Kalkınma Bankası

Yapı ve Kredi Bankası

Türkiye Garanti Bankası

Türkiye Halk Bankası

Osmanlı Yatırım Menkul Değerler

İGA Havalimanı İşletmesi

Boyabat Elektrik Üretim ve Ticaret

Aslancık Elektrik Üretim

Doğuş Enerji Üretim ve Ticaret

Eczacıbaşı Holding

AG Anadolu Grubu Holding

Abu Dhabi Commercial Bank PJSC

Turgut Aydın Holding

Asce Gayrimenkul Yatırım Ortaklığı

Büyük Şefler Gıda Turizm Tekstil Danışmanlık Organizasyon Eğitim Sanayi ve Ticaret

Work highlights

  • Represented TC Ziraat Bankası, Türkiye Vakıflar Bankası TAO and Türkiye Halk Bankası in an acquisition finance transaction facilitating Doğuş Otomotiv Servis ve Ticaret’s €170m acquisition of a majority stake in Doğuş Gayrimenkul Yatırım Ortaklığı from Doğuş Holding.
  • Acted as Turkish law counsel to TC Ziraat Bankası on a two-tranche syndicated term loan facility extended by a consortium of 52 financial institutions across 25 countries, valued at at $418m and €708m.
  • Advised Asce Gayrimenkul Yatırım Ortaklığı, an affiliate of Sanko Group, on its planned IPO by facilitating its conversion into a real estate investment company.

Bezen & Partners

A popular choice for both lenders and borrowers, Bezen & Partners has been particularly active in the energy, infrastructure, and real estate and construction spheres of late. The group is additionally noted for its significant international dimension, despite being a local firm, due in no small part to the cross-border expertise of UK-qualified firm founder Yeşim Bezen, who specialises in banking, project finance and structured finance. Other key contacts include Banu Bölükemini, who enjoys close links with client EBRD, where she previously spent five months on secondment; and Murat Soylu, whose practice spans corporate, capital markets and finance. Berkay Sezginci is a capable associate.

Practice head(s):

Yeşim Bezen; Banu Bölükemini; Murat Soylu

Other key lawyers:

Berkay Sezginci


‘The team acts like the work is its own project, not the client’s. Lawyers defend our rights strongly.’

Key clients

Absa Bank Tanzania

Asian Infrastructure Investment Bank

Akfen Gayrimenkul Yatırım Ortaklığı

Akfen Holding

European Bank of Restructuring and Development

Eren Holding

Kredit für Wiederaufbau IPEX

Medcem Madencilik Yapı Malzemeleri Sanayi ve Ticaret

Modern Karton Sanayi ve Ticaret

Mohamed Al Barwani

PNC Bank

Pronet Güvenlik Hizmetleri

RHG Enertürk Enerji Üretim ve Ticaret

Rönesans Enerji Üretim ve Ticaret

Rönesans Holding

RTGS Global

Yıldırım Holding

Work highlights

  • Advised Modern Karton on a Hermes and Sinosure covered €350m facility agreement from ING and DZ Bank for the supply of goods and services from China and Germany, within the scope of the construction of a paper mill project in the Republic of Turkey.
  • Advised Akfen Gayrimenkul Yatırım Ortaklığı, a REIT, and its parent company on various financings executed by affiliates for hotel investments in Turkey, Northern Cyprus and the CIS.
  • Advised Asian Infrastructure Investment Bank (AIIB) on a $50m loan facility to AKLease for funding financial leases for renewable energy and energy efficiency-related assets.

Çakmak Attorney Partnership

The ‘well-connected and knowledgeable’ group at Çakmak Attorney Partnership keeps busy advising on an array of financing transactions, capital markets offerings and regulatory matters. The firm significantly augmented its corporate finance and projects expertise during 2023 through the hire of Gökhan Okan from Verdi Hukuk Bürosu. Okan now jointly heads the department together with banking, finance and debt capital markets partner Devrim Ergun. High-profile projects partners Mustafa Durakoğlu and Mesut Çakmak also have significant banking and finance dimensions to their practices.

Practice head(s):

Devrim Ergun; Gökhan Okan

Other key lawyers:

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


‘The team is has been one of our company’s best business partners since 2012. We are very pleased to work with Ayşe Eda Biçer Özen. She is always kind and patient with us.’

‘The team is very experienced and collaborative.’

‘Gökhan Okan is very experienced, friendly, and experienced.’

‘The team is very strong, well-connected and knowledgeable. Lawyers know the industry and regulations very well and can always create tailor-made, quality legal advice for us, particularly Gülşen Engin and Mustafa Durakoğlu.’

Key clients

Bank Julius Baer

Abu Dhabi Commercial Bank

Emirates NBD Bank

Bayerische Landesbank (BayernLB)

Bank of America entities

European Bank for Reconstruction and Development (EBRD)

International Finance Corporation (IFC)

ERG Group

T. Garanti Bankası (Garanti BBVA)

Visa Europe

Western Union

China Citic Bank

Çayeli Bakır İşletmeleri

Work highlights

  • Advising Abu Dhabi Commercial Bank, and a syndicate of banks, on an unsecured syndicated social term loan facility to Akbank for general corporate purposes and for the financing of the reconstruction of cities in Southeastern Turkey that were impacted by the earthquakes in February 2023.
  • Advising Garanti BBVA on the Turkish law aspects of the 2023 update of its global medium-term note programme.
  • Advising EBRD on financings provided to Bursa Water and Sewage Administration in connection with the construction of a water transmission line and a water treatment plant, to be secured by a guarantee from the Bursa Metropolitan Municipality.

Erdem & Erdem Law Office

Lawyers at Erdem & Erdem Law Office are valued by sources for their ability to provide ‘concise and clear answers’. The firm is traditionally best known for its reputation in the banking and finance field, where it acts for a diverse portfolio of domestic and international lenders and corporate borrowers, but recently bolstered its capital markets offering: in September 2023, İbrahim Onur Baysal – former head of legal at Karsan Holding who previously held an in-house position at the Capital Markets Board of Turkey – joined the firm as leader of the capital markets practice. Senior partner Ercüment Erdem and corporate head Özgür Kocabaşoğlu additionally co-lead the department, with support from managing associate Didem Adlığ.

Practice head(s):

Ercüment Erdem; Özgür Kocabaşoğlu; İbrahim Onur Baysal

Other key lawyers:

Didem Adlığ


‘The team is responsive, client-friendly, listen to client needs/requests and provide concise and clear answers.’

‘Didem Adlığ and her team display the knowledge of the regulatory and legal landscape and provide a quick and clear response specifically tailored for the situation at hand.’

Key clients


Deutsche Bank / Turkey

Türkiye İş Bankası

Yıldırım Holding

Türkiye Finans Katılım Bankası

Türkiye Şişe ve Cam Fabrikaları

QNB Finansbank

Göçtur Turizm Yatırım ve Ticaret

Samruk – Kazyna Sovereign Wealth Fun Joint Stock Company

İş Portföy Yönetim

Work highlights

  • Advising Türkiye İş Bankası on banking and capital markets law, including transactional and day-to-day matters.
  • Advising QNB Finansbank on the structuring of Step Halıcılık Group in Türkiye.

Hergüner Bilgen Üçer Attorney Partnership

Hergüner Bilgen Üçer Attorney Partnership houses a thriving capital markets practice, with strong recent experience in representing both issuers and underwriters in domestic and cross-border bond offerings. In a highlight example, group co-head Piraye Kuranel Başol led the department’s advice to Istanbul Metropolitan Municipality on a bond issuance to finance the expansion of Istanbul’s subway lines. On the banking and finance side, the team demonstrates adroit handling of corporate finance, project finance, Islamic finance, and regulatory issues, among others. Fellow department co-head Yeşim Api Şamlı is recommended for both transactional and regulatory work.

Practice head(s):

Piraye Kuranel Başol; Yeşim Api Şamlı

Other key lawyers:

Mert Oğuzülgen


‘Hergüner Bilgen Üçer Attorney Partnership relies on a highly skilled team, being able to assist with all core legal and tax advisory activities. The team is efficient, versed in different areas and has a strong background in delivering high-level professional services.’

‘Yeşim Api Şamlı is my person of reference within the firm. Yesim is a brilliant professional, skilled in advising high-net-worth Turkish families on their wealth-planning matters. She is admired for her hard-working attitude and her ability to understand the clients’ needs.’

‘The cases we collaborated on demanded profound knowledge of very niche topics, not well understood in the Turkish legal environment.’

‘We worked with both seasoned partners and junior associates, and both categories of professionals performed outstandingly.’

Key clients


Export Development Canada

US International Development Finance Corporation



Morgan Stanley

Credit Suisse

Work highlights

  • Acted as Turkish counsel to the initial purchasers, Credit Suisse and Morgan Stanley, on the €275m debut high-yield bond offering of Standard Profil.
  • Advised ICBC Turkey on regulatory matters connected to capital market activities conducted in Turkey through various different business lines.
  • Advised Istanbul Metropolitan Municipality on a bond issuance project for the financing of the expansion of the subway lines in the city of Istanbul.

Pekin & Pekin

Pekin & Pekin’s pioneering record in cross-border banking, finance and capital markets matters is evidenced by its longstanding relationships with global banking heavyweights such as Goldman Sachs, HSBC and Deutsche Bank – all of whom it has been advising for over two decades. The group also counts multilaterals, alternative lenders and corporate borrowers among its extensive client roster. Following the recent departure of department co-head Eda Beltan, Göze Yıldırım solely leads the group and is particularly recognised for her growing reputation in the capital markets sphere; notably, she had a key role in representing the underwriters on all of the Republic of Turkey’s Eurobond issuances. Senior associate Göksu Gökay left in November 2022.

Practice head(s):

Göze Yıldırım


‘Pekin & Pekin’s extensive knowledge and experience in banking law ensures a very high-quality service with prompt replies to queries and regular status updates to clients. One of its greatest strengths is that it not only knows the technicalities of banking law but also the practices of the regulatory authorities.’

Key clients

Citigroup Global Markets

BofA Securities

J.P. Morgan Securities

Goldman Sachs International

Standard Chartered Bank


ING Bank

Deutsche Bank, London Branch

Work highlights

  • Acted for the underwriters (Citigroup Global Markets, BofA Securities, Goldman Sachs International and JP Morgan Securities) on the Republic of Turkey’s Eurobond issuances, totalling $5.5bn.

Pekin Bayar Mizrahi

Pekin Bayar Mizrahi’s alliance with Norton Rose Fulbright continues to bear fruit following its 2021 tie-up. Among its recent gains, the group won HSBC Bank Middle East, UAE as a new client when it teamed up with the Dubai office of its international partner to support a $50m murabaha facility granted to a Turkish textile conglomerate. Selin Bayar (who co-heads both the corporate and M&A practice, and the banking, finance and capital markets group) co-led the HSBC transaction alongside up-and-coming finance specialist Fatoş Otcuoğlu. Other key contacts include Utku Ünver, whose work spans finance, private equity and corporate matters, and senior associate Damla Çay — both are on secondment from Norton Rose Fulbright’s Istanbul office. Senior associate Zeynep Tezan left the firm in 2022.

Practice head(s):

Selin Bayar; Fatoş Otcuoğlu; Utku Ünver

Other key lawyers:

Damla Çay


‘A truly full-service law firm with an international alliance partner (Norton Rose Fulbright), which is rare in Turkey. We are very happy with the quality of the service we receive for our finance and payment system services projects. Outstanding involvement of partner and senior-level associates, even in minor issues.’

‘We work with Fatoş Otcuoğlu, who is very analytical with an outstanding legal background. She is always reachable, easy to work with and really result-oriented. We always feel confident with her excellent legal service and experience.’

‘Senior associate Ayça Gümüşay is another lawyer to highlight within the team. She is very punctual and provides quality legal service.’

Key clients

QNB Finans Leasing



QNB Finans Bank

HSBC Dubai

Yapi Kredi Leasing

Work highlights

  • Represented Export Development Canada on the provision of a $100m facility to Tekfen İnşaat ve Tesisat, sponsored by Tekfen Holding.
  • Advised QNB Finans Leasing on a €20m multi-tied SACE-covered credit facility provided by ING-DiBa.
  • Advised a leading crypto exchange on setting up a local crypto exchange platform in Turkey, and on the expansion of its Turkey operations.

Akol Law

Akol Law impresses with its track record in representing issuers in flagship capital markets offerings, including IPOs. It also stands out for its experience in acting for foreign corporates on the sale of equity and debt securities to investors in Turkey. Managing partner Meltem Akol is widely recognised as a market leader for capital markets work, with recent activity in Eurobond offerings, IPOs, secondary offerings and structured finance products. Senior associate Denizhan Budak provides specialist support on both capital markets transactions and regulatory matters.

Practice head(s):

Meltem Akol

Other key lawyers:

Denizhan Budak


‘We value the team for its specific expertise and well-established network.’

‘Lawyers demonstrate dedication and knowledge.’

‘The team stands out for its track record and experience, ability to solve complex matters, availability at demand and high degree of collaboration with other team members.’

‘Lawyers show a high level of legal experience along with unique management skills.’

Key clients

Söke Değirmencilik

Aztek Teknoloji


Peninsula (Kuzu Grup)

Izdemir Enerji


Rönesans Healthcare


QNB Finansbank


Work highlights

  • Advised Söke Değirmencilik Sanayi ve Ticaretn on its IPO and listing on the Borsa İstanbul.
  • Advised Aztek Teknoloji Ürünleri Ticaret on its IPO and listing on the Borsa Istanbul.
  • Acted as transaction legal counsel to Europower Enerji ve Otomasyon Teknolojileri Sanayi Ticaret on its IPO.


CCAO oversees transactional and advisory matters for a broad base of domestic and foreign banks and financial institutions. The group also frequently advises corporate lenders, particularly in the energy, infrastructure and real estate spheres. A former in-house lawyer at Yapı Kredi Bank, Onur Taktak leverages over 25 years of experience in the banking and finance field. Other key contacts include up-and-coming specialist Candemir Baltalı; dual-qualified (Turkey and New York) corporate, finance and energy partner Begüm Yörükoğlu; and Halide Çetinkaya, who handles corporate and finance work. Onur Görkem Köksal was recently promoted to senior associate.

Practice head(s):

Begüm Yörükoğlu; Candemir Baltalı; Halide Çetinkaya; Onur Taktak

Other key lawyers:

Onur Görkem Köksal


‘The team is well-geared, and team members are knowledgeable and responsive. We have collaborated with the team on a number of transactions across several of our global offices. Clients would be well-served engaging CCAO for complex/premium Turkish work.’

‘Key individuals we’ve worked with are Onur Taktak, Candemir Baltalı and Begüm Yörükoğlu. They are very pragmatic, knowledgeable and responsive – keen to do the right thing for their clients.’

‘Dedicated team members, perfect legal support within a reasonable budget.’

‘Commercial approach in line with legal aspects, flexible and efficient solutions, resilience to work under time pressure.’

‘The team distinguishes itself through its expertise, client-centred approach, and commitment to solutions. With a collaborative synergy that harnesses the team’s collective strengths, it provides legal solutions that align with clients’ broader goals.’

‘In comparison to other firms, this team’s legal excellence, client-focused ethos, supportiveness in every aspect, and friendly and easily accessible approach sets it apart, ensuring clients receive not only top-tier legal counsel but also a personalised and collaborative experience.’

‘The lawyers we have had the privilege of working with truly stand out in their field, demonstrating qualities that set them apart from their competitors. Their unwavering dedication to clients is evident in every interaction, going above and beyond to provide expert legal counsel while fostering a sense of partnership.’

‘Candemir Baltalı has consistently showcased friendly and understandable strategic insight and a keen understanding of the nuances of our cases, guiding us towards favourable outcomes with unwavering professionalism.’

Key clients

Le Erzin GES Enerji

Habib Bank Zurich

TAV Ege Terminal Yatırım Yapım ve İşletme

JP Morgan Chase Bank


Firstrand Bank

ING Bank

Credit Europe Bank

Denizbank AŞ / Denizbank AG


Garanti Bank BBVA


DZ Bank


Yapı ve Kredi Bankası


Türkiye İş Bankası

T. Vakıflar Bankası

T. Ziraat Bankası

Çelebi Holding

Dogan Holding

Timur Gayrimenkul

Cengiz Holding

Rönesans Holding

Work highlights

  • Advised JP Morgan Securities on a $300m loan granted to finance the repayment of the current bonds of Petkim Petrokimya Holding.
  • Advised TAV Ege Terminal Yatırım Yapım ve İşletme and TAV Havalimanları Holding on the restructuring of $275m of loan facilities provided by a group of lenders for the acquisition of concession rights in relation to the İzmir Adnan Menderes Airport.
  • Advised Türkiye İş Bankası and Türkiye Sınai Kalkınma Bankası on loans of $85m advanced to EİS Pharmaceuticals, a publicly listed subsidiary of Eczacıbaşı Group, for the acquisition of Gensenta İlaç.


The seven-lawyer group at DURUKAN+PARTNERS stands out for its regulatory capability, where it is well placed to handle both compliance issues and banking litigation. The team also secures a steady stream of transactional mandates, including corporate loans, structured finance and insolvency-related work. Founding partner Begum Durukan Ozaydin spearheads the practice and combines skill sets in corporate and financial law. Associate Furkan Ergün provides key support.

Practice head(s):

Begüm Durukan Özaydın

Other key lawyers:

Furkan Ergün

Key clients

China Development Bank

Arab Bank plc- Algeria

European Arab Bank

Emaar Properties PJSC

International Finance Corporation (IFC)

Ansaldo Energia

Turkiye Sinai ve Kalkinma Bankasi

Euroclear Bank


Work highlights

  • Advised the International Finance Corporation on financings extended to Turkish companies for the purposes of financing their projects or working capital needs.
  • Advised Euroclear on the legal and regulatory aspects of the operations of the Euroclear clearance system in Turkey.
  • Advised Arab Bank and Europe Arab Bank in their separate litigations relating to claims arising from letters of guarantees issued by Turkish banks and implications arising from bankruptcy proceedings.

Kolcuoglu Demirkan Koçakli

Primarily active on behalf of corporations, Kolcuoglu Demirkan Koçakli houses a prominent issuer-side capital markets practice. The group also routinely advises corporate borrowers on loans, leasing issues and other finance-related matters. Less frequently, the team acts for financial institutions on banking, finance and capital markets work. Managing partner Umut Kolcuoğlu has strong experience in domestic and cross-border transactions and co-heads the department alongside increasingly prominent capital markets and structured finance specialist Hasan H. Yaşar. Senior associate Eda Saraçoğlu ‘can handle every project’.

Practice head(s):

Umut Kolcuoğlu; Hasan H. Yaşar

Other key lawyers:

Eda Saraçoğlu; Maral Minasyan


‘The team provided excellent advice on Turkish payment services regulation in the context of a multi-jurisdictional project. The team was available at short notice to jump into this project and was up to speed immediately.’

‘Hasan H. Yaşar was very responsive, clean and concise in his answers.’

‘Working with KDK in a transaction is a great comfort. I always feel like the team is the most important supporter throughout the process. If KDK is on our side, I never worry about the quality/timing of anything since it also becomes “the owner” of the process.’

‘Kolcuoğlu Demirkan Koçaklı is a very supportive team and provided legal consultancy services in a professional manner for our project.’

‘Maral Minasyan and Hasan H. Yaşar were very experienced, provided legal consultancy in a timely manner and met our needs.’

‘We have been working with KDK for many years now in various projects and practice areas. KDK has truly been a trusted partner to our firm. It offers comprehensive legal services including banking, finance and capital markets. The team is always available and shows a high level of professionalism.’

‘There is no doubt about Umut Kolcuoğlu’s extensive expertise in this field. When it comes to intricate projects, we consistently rely on his invaluable ability to offer sound approaches and insightful opinions to address any issue.’

‘Hasan H. Yaşar has recently joined KDK. He acts as a valuable asset for us with his prior experience in the field and determination. Eda Saraçoğlu stands out for her communication skills and hard work. Her genuine effort and availability ensures that she can handle every project.’

Key clients

D-Market (known as Hepsiburada)

Boyner Holding

Mediterra Capital

Söke Un

Turk Elektronik Para


Bahrain Middle East Bank

Tavuk Dünyası

Work highlights

  • Advising Tavuk Dünyası on its IPO process.

Özdirekcan Dündar Şenocak Ak

Özdirekcan Dündar Şenocak Ak’s association with international firm Gide Loyrette Nouel is reflected in a client roster that is primarily composed of international — particularly France-based — clients, including IFC, BNP Paribas and Société Générale. That being said, the group also has experience in representing domestic financial institutions and corporate borrowers. Department co-head Arpat Senocak specialises in corporate and finance transactions, with an emphasis on project finance, corporate loans and capital markets work. Bülent Özdirekcan co-heads the practice and contributes significant expertise in tax and restructuring matters. Associate Mehmet Kösoğlu provides support.

Practice head(s):

Arpat Şenocak; Bülent Özdirekcan

Other key lawyers:

Mehmet Kösoğlu

Key clients

International Finance Corporation

Union Bancaire Privée

BNP Paribas

Société Générale


AXA Sigorta


Skandinavska Enskilda Banken


ALD International

SG Hambros

PJSC Rosbank

European Bank for Reconstruction and Development

T. İş Bankası

BNP Paribas Cardif Sigorta

Türkiye Sigorta

The Export-Import Bank of China

Euler Hermes

Ak Gida

Work highlights

  • Advised International Finance Corporation on a $200m term loan facility extended to Marport Liman İşletmeleri San ve Tic.
  • Advised Société Générale Milano on a ten-year Italian lease, combined with a ten-year AFIC-supported loan and a five-year junior loan, for the financing of a Boeing B777-freighter aircraft to be delivered to Turkish Airlines.
  • Advised BNP Paribas on the transfer of all shares of TEB Finansman from BNP Paribas Personal Finance and TEB Holding to Türk Ekonomi Bankasi.


ÖzmenYalçin has hit the ground running following its establishment in March 2022. In particular, it posted an impressive performance on the equity capital markets side, where it has completed 12 IPOs since its launch. The practice also houses a thriving debt capital markets practice, while on the banking and finance side it has strong experience in representing lenders and borrowers on project and acquisition finance transactions, among other matters. Increasingly prominent sector specialists Ömer Gökhan Özmen and Güneş Yalçın co-lead the department. Younger partners Handan BacıoğluMurat Ayyıldız and Damla Keskin Şerbetcioğlu are also noted.

Practice head(s):

Ömer Gökhan Özmen; Güneş Yalçın

Other key lawyers:

Handan Bacıoğlu; Murat Ayyıldız; Damla Keskin Şerbetcioğlu


‘The team was very responsive and commercially oriented. The firm was there to help the client even in out-of-scope matters – without excess charging, which shows how client oriented they are.’

‘Ömer Gökhan Özmen is very hard-working and hands-on. He is very knowledgeable. Handan Bacıoğlu is similarly very hard-working and patient.’

‘ÖzmenYalcin is an outstanding law firm for structured finance deals. Lawyers are reliable, on time and to-the-point.’

‘Günes Yalcin is very practical and helpful, besides the legal knowledge and expertise. Always a pleasure to work with.’

‘The level of devotion and the ability to adapt to a difficult task is very strong with this team. Lawyers are flexible and work very efficiently.’

‘Damla Keskin Şerbetcioğlu is a very devoted and talented lawyer; very smart in assessing situations and hard-working.’

‘Ömer Gökhan Özmen is an outstanding individual dealing with the highest number of IPOs in Turkey. He maintains good relationships with regulators and sector leaders.’

Key clients

Türkiye Vakıflar Bankası TAO

Türkiye İş Bankası

QNB Finansbank

T.C. Ziraat Bankası

Türkiye Sınai Kalkınma Bankası

Şekerbank TAŞ

European Bank for Reconstruction and Development (EBRD) and International Finance Corporation (IFC)

Türkiye İhracat Kredi Bankası (Turk Eximbank)

Tarım Kredi Yem Sanayi ve Ticaret (Tarım Kredi Yem)

Tarım Kredi Birlik Tarım Ürünleri Hayvancılık Ambalaj Petrol Nakliyat İthalat İhracat San. ve Tic. (Tarım Kredi Birlik)

Tarkim Bitki Koruma Sanayi ve Ticaret (Tarkim)

Kalkınma Yatırım Varlık Kiralama (TKYB)

Galatasaray Spor Kulubü (GS)

Adnan Polat Enerji Yatırımı (APEY)

Doğanlar Mobilya Grubu İmalat Sanayi ve Ticaret Anonim Şirketi (Doğanlar Mobilya)

Biotrend Çevre ve Enerji Yatırımları Anonim Şirketi (Biotrend)

Alfa Solar Enerji ve Ticaret Ticaret (Alfa Solar)

Akfen Yenilenebilir Enerji

Tatlıpınar Enerji Üretim (Tatlıpınar)

Oncosem Onkolojik Sistemler Sanayi ve Ticaret

Bien Yapı Ürünleri Sanayi Turizm Ve Ticaret

Katılımevim Tasarruf Finansman

Fuzul Gayrimenkul Yatırım Ortaklığı

Göknur Gıda Maddeleri Enerji İmalat İthalat İhracat Ticaret ve Sanayi

EYG Gayrimenkul Yatırım Ortaklığı (EYG Gayrimenkul)

Birikim Varlık Yönetim

Work highlights

  • Advised Türkiye İhracat Kredi Bankası (Türk Eximbank) on its 144 A/Reg S issuance made under the bank’s $2.5bn MTN programme.
  • Acted for Akfen Yenilenebilir Enerji on its respective IPO and listing on the Borsa Istanbul.
  • Advised Adnan Polat Enerji Yatırımı, as borrower, on a complex refinancing with a syndicate of banks, including EBRD, İş Bankası TSKB and Garanti Bankası.


Among TURUNÇ’s strong suits, it demonstrates a robust regulatory and compliance offering, particularly in relation to fintech and e-payment services. The group also shines in matters intersecting corporate and finance work, including private equity and VC investments. Key names include founding partner Noyan Turunç, whose international experience was honed during in-house roles at various US multinationals including Boeing; Kerem Turunç, who is qualified in Turkey, New York, Washington DC and the UK; İltem Dokurlar, who is noted for capital markets; and counsel Ilgın Eroğlu Alyanak, who splits her practice between Washington DC and Istanbul.

Practice head(s):

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


‘Our business model brings together different elements of finance, corporate finance advice and financial technologies. Accordingly, we work extensively with Turunç’s finance and capital markets teams. They are well-staffed, easy to work with, reliable and extremely experienced.’

‘Noyan Turunç oversees the entire team and transaction extremely efficiently. Kerem Turunç has amazing capital markets background and experience. İltem Dokurlar’s Borsa background is very useful for capital markets work. Ilgın Alyanak is a particularly valuable adviser for project finance work.’

‘The team is unique for its pleasant personalities and can-do attitude. We have worked with the firm for many years and lawyers know our company like they are a part of it. I can always call someone and know they will answer the phone.’

‘Turunc has a great team, hard-working, professional, experienced and goal oriented. They have great experience not only nationally but also internationally ie USA. The team has also great international coverage by collaborating with other prominent legal offices.’

‘I mostly worked with Kerem Turunç, the managing partner. He is very professional and a great communicator. He offers alternative solutions and with his extensive experience comforts the client. He is also available, I reached him every time I needed him.’

‘This practice is unique given the transparency in billing and pricing structure; high quality and expertise of the team; and prompt response rate in our working relationship. Furthermore it came up with creative solutions numerous times, for unique deals that were being done.’

‘Kerem Turunç’s concise and prompt responses to our queries and his upstanding professionalism really stood out for us. Furthermore his deep understanding of both the Turkish VC market and the US VC market provided a unique viewpoint in our matters.’

‘The TURUNÇ team is a well-established, well-informed team led by exceptional lawyers. It is always up to date on legislation and market practices. Its strong business acumen allows it to provide ongoing regulatory advice while knowing what the client needs from a commercial perspective.’

Key clients

Bursa Eskişehir Bilecik Development Agency (BEBKA)


Lycian Capital

BV Portföy Yönetim Şirketi


Vektör Tanıtım

Boğaziçi Ventures

Arya Women Venture Capital

Tacirler Gelecek Etki Venture Capital


Caffè Nero

Venta Projects

İş Yatırım Ortaklığı (İş Investment Trust)

BV Crypto

Banco Santander

Work highlights

  • Assisted BV Portföy Yönetim Şirketi with forming and obtaining a Capital Markets Board licence.
  • Advising Ascential on the sale of its subsidiary, WGSN.
  • Advised Lycian Capital on establishing a strategic partnership with Italian asset management company Azimut.

YBK Law Firm in Cooperation with CMS

YBK Law Firm in Cooperation with CMS advises both lenders and borrowers on banking and finance transactions, with the ability to lean on its international network for support in cross-border transactions. The department also houses an active capital markets practice, which recently represented AFD on Türkiye Kalkınma ve Yatırım Bankası’s first sustainable bond – capital markets head Hülya Kemahlı led the offering, aided by counsel Arcan Kemahlı and associate Zeynep Berin Manavgat. The group further includes firm co-founders Döne Yalcin, who handles the full gamut of financing transactions, and Alican Babalıoğlu, who focuses on private equity and capital markets, as well as Alaz Eker Ündar, who routinely represents lenders.

Practice head(s):

Döne Yalçın; Alican Babalıoğlu; Hülya Kemahlı; Alaz Eker Ündar

Other key lawyers:

Arcan Kemahlı; Zeynep Berin Manavgat


‘Collaboration and solidarity are the best part of their great offering.’ 

‘We particularly highlight Hülya Kemahlı – she is the best. We trust her word under all circumstances.’

Key clients

Agence Française de Développement (AFD)

Kaleseramik, Çanakkale Kalebodur Seramik Sanayi Anonim Şirketi



Hitit Bilgisayar Hizmetleri Anonim Şirketi

Work highlights

  • Advised AFD on the private placement of the sustainable bond issued by Türkiye Kalkınma Yatırım Bankası.
  • Advised Kaleseramik, Çanakkale Kalebodur Seramik Sanayi Anonim Şirketi on the amendment of its articles of association in line with requirements for public companies and on the preparation of the offering circular for its first IPO.
  • Advised EBRD on an additional tranche extended to Tersan in relation to financing a berth extension and roof-type solar energy system.

Cigdemtekin Cakirca Aranci Law Firm

A well-established stalwart of Turkey’s banking and finance scene, Cigdemtekin Cakirca Aranci Law Firm enjoys good links with international referral partners, ensuring that it is frequently involved in cross-border work. Equally adept at transactions and regulatory matters, the group additionally stands out for its growing fintech practice. Corporate finance partner Gamze Çiğdemtekin Özer co-heads the practice together with Tuna Çakırca Engur, who has an emphasis on capital markets law.

Practice head(s):

Gamze Çiğdemtekin Özer; Tuna Çakırca Engür

Key clients

Egesim Group

Cevher Jant

Franklin Templeton Investments

CEECAT Capital

Verifone Elektronik ve Danışmanlık (Verifone Turkey)

Aabar Investments PSJ

Templeton Asset Management

Edenred Turkey

Görener Family

Further Network

Arab African International Bank

Onlayer Bilişim Teknolojileri

Work highlights

  • Advising Franklin Templeton on capital markets and regulatory law in connection with certain of their portfolio companies in Turkey.
  • Advising Arab African International Bank on a green finance product extended to an Egyptian subsidiary of a Turkish conglomerate.
  • Advising Panaroma Bilişim Teknolojileri on loan agreements, surety contracts and matters relating to payment services regulations, among other matters.

Gen Temizer

A deal-focused firm’, Gen Temizer combines robust local experience with solid international expertise. The practice demonstrated its commitment to growth during 2023 with the hire of new department co-head Ömer Erdoğan from Güner Law Office. The group’s growing profile was further illustrated by its 2023 appointment to EBRD’s legal panel, while it also won BNP Paribas and Binance as new clients. Other key names include UK-qualified group co-head Edmund Emre Özer, corporate and finance partner Baran Gen, counsel Mert Elçin and managing associate Dila Topuz. Former department co-head Müfit Arapoğlu left to join the London-based Fladgate LLP.

Practice head(s):

Edmund Emre Özer; Ömer Erdoğan

Other key lawyers:

Baran Gen; Mert Elçin; Dila Topuz


‘Very experienced and professional team with excellent resources who are all a pleasure to work with. The team is available 24/7 and its efficiency and quality of advice is quite impressive.’

‘Ömer Erdoğan is an incredibly knowledgeable and, most importantly, always accessible and available professional, who can always offer alternative ways to tackle a problem. Gizem Esen is very quick to respond and a great project manager.’

‘We first hired Gen Temizer Özer in 2013 after working as lender for a client of theirs on a project financing and we were impressed by their work on the other side of the table. We appreciate its expertise in project financings, especially in renewables. It is a deal-focused firm that is led from the front by the partners.’

‘Edmund Emre Özer has a UK background, which we appreciate for our cross-border financing. He is a great lawyer to work with and has a calm and constructive style of working.’

‘Baran Gen combines first-class legal knowledge with practical deal-making skills. She puts the focus on the transaction to ensure that it gets done in the right way.’

‘Mert Elcin has been doing excellent work for us and is closely involved in our matters.’

‘Gen Temizer Özer combines English law and Turkish law capacity together with precious M&A experience. The team’s ethical and commercial standards are admirable.’

‘All three partners, Baran Gen, Ebru Temizer and Edmund Emre Özer, are very good. Their senior associates are also on the rise.’

Key clients


Bench Walk Advisors


BNP Paribas


DNB Bank

Egis Tunnel Management

Erciyas Celik Boru Sanayi

Herbert Smith Freehills


Mercedes-Benz Finansman

Nordic Trustee


Partners for Growth


Volt Associes

Work highlights

  • Represented DNB Bank and Nordic Trustee in Viacon’s €200m bond issuance.
  • Advised BNP Paribas on a syndicated acquisition financing provided to Schneider Electric.
  • Acted for Partners for Growth on a $20m financing provided to Martı.


Gökçe finds favour for its ‘deep understanding of the fintech industry’, where it acts for leading domestic and multinational names such as Figopara. The group also possesses extensive experience of representing corporate borrowers on lending transactions. Managing partner Görkem Gökçe is noted for his broad practice, which takes in corporate transactions, project finance and technology-related work. Ali Paslı also has experience in banking and capital markets law.

Practice head(s):

Görkem Gökçe; Ali Paslı

Other key lawyers:

Nazlı Nehir Sertbaş


‘We work with the Gökçe team on managing our bank credit and financing processes, as well as our communications with various banks. Its speed in projects, knowledge base, and industry expertise are truly at an adequate level.’

‘In particular, we work closely with Nazlı Nehir Sertbaş, the managing attorney of the department. She is an easy manager to communicate with and with whom to coordinate projects. Her wealth of knowledge, negotiation skills, and ability to inform us regarding risks are crucial.’

‘Thanks to Görkem Gökçe’s commercial acumen and practicality, we’ve been able to progress or complete many tasks with less effort. Additionally, we value his ability to suggest suitable financing models based on our needs.’

‘The practice stands out for several reasons. First and foremost, its deep understanding of the fintech industry truly sets them apart. The legal team not only possesses extensive knowledge of technology and regulatory matters but it also has a profound grasp of the intricacies within the fintech sector.’

‘Its industry-specific fintech expertise allows it to provide tailored solutions and insights that other firms may lack. Furthermore, the practice is dedicated to staying at the forefront of technological advancements. Lawyers are always up to date with the latest trends, emerging technologies, and regulatory changes.’

‘Effective communication is a cornerstone for us, and lawyers are able to maintain transparent and open lines of communication to keep us informed at all times. The team thrives on complex problem-solving.’

‘The team consists of young and highly engaged experts. The partners work on projects, teach at Istanbul universities, and participate in legislature’s working groups, which helps them to come up with unique solutions in intersectoral cases.’

Key clients

Odea Bank

Türkiye Vakıflar Bankası TAO

Industrial and Development Bank of Turkey (TSKB)

MBaer Merchant Bank



Güner Law Office

Güner Law Office’s close referral relationships are reflected in its recent banking and finance work, which includes advising major global financial institutions and corporations on local law issues. The practice is led jointly by Burçak Kurt Biçer, who has a focus on banking, finance and project-related matters, and Eren Ertem, who recently joined from Somay Hukuk Bürosu.

Practice head(s):

Burçak Kurt Biçer; Eren Ertem

Key clients

Bank of America Merrill Lynch International

The Walt Disney Company Turkey

Siemens Healthineers, through Clifford Chance

Siemens Energy, through Clifford Chance

SAP, through Deloitte LLP

Work highlights

  • Advised Bank of America Merrill Lynch International on various regulatory issues.
  • Advised The Walt Disney Company Turkey on the negotiation of various corporate banking agreements with several banks in Turkey.
  • Advised SAP, through Deloitte LLP, on reviewing and revising its employee share plan, which gives an option to employees to purchase shares of the relevant entity, according to Turkish legislation.

Lexist Law Firm

Benefitting from its strong footprint in highly regulated industries, Lexist Law Firm’s banking and finance group has a significant emphasis on regulatory matters, particularly fintech-related issues. The team also handled a significant volume of equity offerings on behalf of issuers over the past year, with a focus on the healthcare, consumer products and energy spheres. Department head Murat Erbilen possesses broad experience in financial services, including project finance, payment services and Islamic finance, while Mesut Kaya specialises in regulatory work. Meysa Yamakoğlu is also noted.

Practice head(s):

Murat Erbilen

Other key lawyers:

Mesut Kaya; Meysa Yamakoğlu; Sevde Nur Paksoy


‘The team is experienced and well-equipped.’

‘Individuals possess strong relationship-management skills, and our company and third parties are well-managed.’

‘Lexist Law Firm has great associates that are capable in various fields of law. The team’s efficiency in delivering the legal product is exceptional.’

‘Murat Erbilen has an exceptional commercial knowledge of the banking/finance industry. He has a great portfolio of clients, including the most creditable banks and financial establishments.’

‘The team is strong and young and lawyers work very hard to meet our deadlines. They had to write a new law, and get it passed for our project, so everything was riding on their performance.’

‘Murat Erbilen is a tower of confidence. Mesut Kaya is vital to team motivation.’

Key clients

TVF İFM Gayrimenkul İnşaat ve Yönetim, a subsidiary of the Turkish Wealth Fund

Work highlights

  • Advised on the setup of a digital bank, including obtaining establishment and operation licences for multiple companies.
  • Advised a subsidiary of the Turkish Wealth Fund on the establishment of the new Istanbul Financial Center, which required new legislation and extensive negotiations with the regulators.
  • Advised several related entities on their successive engineering and energy sector IPOs.

Moroglu Arseven

Moroglu Arseven’s active corporate finance practice strikes a balance between transactional and regulatory work. The team routinely acts for an array of borrowers, issuers, lenders, fintechs, payment service providers and funds, with notable experience in cross-border transactions. Corporate and finance partner Seyfi Moroğlu heads a team that also includes Hazal Baydar, whose broad practice takes in banking, finance and projects, and senior associate Burcu Güray, who is noted for capital markets regulation. Corporate and M&A specialist Burcu Tuzcu Ersin and senior associate Sevi İslamageç advise venture capital funds.

Practice head(s):

Seyfi Moroğlu

Other key lawyers:

Hazal Baydar; Burcu Güray; Burcu Tuzcu Ersin; Sevi İslamageç


‘Burcu Güray’s expertise and quick responses are valuable.’

Namli & Kayum & Demir Attorney Partnership

The compact but effective capital markets practice at Namli & Kayum & Demir Attorney Partnership impresses sources with its ‘immense ability to conjure capital markets structures in strict conformity to the regulations’. Predominantly active on behalf of issuers and selling shareholders, the group is well versed in both debt and equity offerings. Kaan Demir spearheads the department and handles a mix of corporate and capital markets work. The group additionally draws on corporate partner Begüm Kayum Ağar, who also handles capital markets transactions, and supporting associate Mert Ceylan.

Practice head(s):

Kaan Demir

Other key lawyers:

Begüm Kayum Ağar; Mert Ceylan


‘I can safely say that the team is extraordinarily competent. I have worked with it on various IPOs. After seeing its aptitude in various IPO processes, we have entrusted our company’s IPO to the firm. The team is always responsive and alert, and overall it is great to work with!’

‘I worked with Kaan Demir and Mert Ceylan. Their services have been crucial in several IPOs featuring difficulties in capital and offering structure, labyrinthine legislation with unforeseeable application, and ongoing significant litigation. Both are very knowledgeable in capital markets, especially on the sell-side.’

‘We recognise the team’s immense ability to conjure capital markets structures (instruments, bonds, loans, convertibles, OTC derivatives, public offerings etc) in strict conformity to the regulations. We require its knowledge in the lay of the land and what is prohibited.’

‘The team’s knack for finance and capital markets is top notch and its lawyers are incredibly energetic. There were at times where a month’s work had to be done in the span of few days, and they pulled it off very well with the help of their understanding of the laws.’

‘Kaan Demir and Mert Ceylan are both incredibly talented and they understand the working mechanisms behind money. This allows them to interpret the laws and regulations easily with the legal risk exposure being minimal. This further allows them to warn us of possible legal risks.’

‘The team has been essential in the IPO of our company. We initiated an IPO procedure in the midst of a substantial banking and credit legislation change. Frankly, without the team’s help, we would not have been able to navigate it all. The team is very knowledgeable in banking and capital markets.’

‘Kaan Demir and Mert Ceylan are both superb in their knowledge of the law, their navigation of it, and their understanding of commercial principles. They have warned us wherever there was a need and overcame every obstacle by correcting our legal standing before various regulatory bodies.’

Key clients

Şeker Yatırım Menkul Değerler

Sümer Varlık Yönetimi

SMM Tekstil

Work highlights

  • Advised Consus Enerji İşletmeciliği ve Hizmetleri on the IPO of its shares on the Borsa Istanbul for ₺519.8m.
  • Advised Naturelgaz Sanayi ve Ticaret on the IPO of its shares on the Borsa Istanbul for ₺293.3m.
  • Advised Global Yatırım Holding on its ₺324.1m paid capital increase through a public offering on the Borsa Istanbul.

Okat Law

Established in 2021, boutique firm Okat Law enjoys close links with domestic and international banks, corporate issuers, asset management companies and fintechs, among other financial services clients. The group is primarily recognised for its work in the capital market sphere, where department head Yalçın Özge Okat is noted for his strong track record in IPOs.

Practice head(s):

Yalçın Özge Okat

Key clients

Uslu ÇSM Iron Steel

Finar Communication Technologies

Dinamik Investment Securities

Work highlights

  • Advised Uslu ÇSM Iron Steel on its IPO process.
  • Advised Finar İletişim Teknolojileri on the establishment of investor platform Bistock.

Pelister Atayilmaz Enkur Law Office

Praised for its ‘tailor-made solutions’, Pelister Atayilmaz Enkur Law Office’s banking group is well-positioned to handle distressed debt and bankruptcy-related transactions, where it can act hand-in-hand with its prominent corporate restructuring practice. Kerim Pelister contributes experience in corporate, finance, energy and restructuring matters, co-heading the department together with Fazil Ciftci, who splits his practice between banking, litigation and bankruptcy law.

Practice head(s):

Kerim Pelister; Fazil Ciftci


‘The team, especially Kerim Pelister, always have tailor-made solutions for the needs of the client.’

Work highlights

  • Advised Syntaxis Capital on the accession of a new shareholder in Uğurlu Cam.
  • Advised Conteyor Turkey on its accession to a senior facilities agreement with lenders Belfius Bank, ING Belgium and KBC Bank, acting as a guarantor in favour of its parent.
  • Advised QNB Finansbank on the sale of non-performing loans to asset management companies.