Firms in the Spotlight Banking, finance and capital markets

LBF Partners

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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

Balcioglu Selçuk Ardiyok Keki has strengths in banking and public financing transactions, including work for major Turkish and European lenders on syndicated lending, debt restructuring, and corporate financing matters. The dedicated capital markets team is jointly led by Müfit Arapoğlu and Günhan Yalçın, specialist capital markets lawyers who handle debt and equity deals, and sukuks. Barlas Balcıoğlu co-heads the overall team; he specialises in project finance, but also handles acquisition finance, cross-border bank M&A, and inter-bank lending.

Practice head(s):

Barlas Balcıoğlu; Müfit Arapoğlu

Other key lawyers:

Günhan Yalçın

Testimonials

‘Expertise in the field, good knowledge of legislation and practice and interpretation of the governmental authority in recent years’

‘Mufit Arapoglu is well experienced and easy to reach when needed.’

‘The team is very dedicated and has a strong client focus. In addition to their extensive knowledge on the legal area, they have a solid understanding of the business as well.’

‘Great local presence, coupled with global reach. Broad sectoral reach. Avoiding frequent turnover and providing continuity with trusted staff. Generally flexible and pragmatic approach to issues. ’

‘Barlas Balcioglu has been the bedrock for our relationship. His leadership internally and solution-oriented approach towards us have made Baseak the first choice go-to firm for us over many years.’

‘Expertise, collaborative, responsive’

‘Trustworthy, good knowledge on the field, responsive ’

‘Capital Markets Team lead by Mufit Arapoglu and the finance team are super prompt, business minded, understand the specific needs of a client and always address them.’

Key clients

Tiryaki Agro Gıda

Tüpraş Petrol Rafineleri

Bank of America Merrill Lynch International DAC

ODDO BHF Aktiengesellschaft

Taxim Capital

Türkiye Kalkınma ve Yatırım Bankası

Mercedes-Benz Finansman Türk

Enerjisa Enerji

Coca Cola İçecek

Barclays Bank

Koç Holding

Perea Capital

Work highlights

  • Advising Tiryaki Agro on the global restructuring of the Tiryaki group which involves, among others, a $175m refinancing facility to be granted by a syndicate of banks led by ABN Amro Bank to Tiryaki subsidiaries, in a total package totalling $255m.
  • Advising Tiryaki Agro on the amendment and restatement of a $65m term loan facility extended by the FMO, EBRD and Proparco to Tiryaki Agro.
  • Advised ODDO BHF Aktiengesellschaft on an export finance facility to Biyomek Elektrik Enerjisi Üretimi and a payment guarantee from the same borrower.

CIFTCI Attorney Partnership

Bolstered by its alliance with Clifford ChanceCIFTCI Law Firm advises banks, financial institutions, and private equity investors on major international acquisition and project finance, asset finance, and Islamic finance transactions, including cross-border syndicated loans and structured finance. The firm is particularly active in the energy and infrastructure sectors, with China Development Bank, Standard Chartered, and CVC Partners listed among the firm's key clients. In the capital markets space, the team has capabilities in debt and equity deals, and also has a strong reputation for sukuk work. New practice head Sait Eryilmaz was promoted to partner in early 2021, and has experience in diverse financing matters.

Practice head(s):

Sait Eryılmaz

Key clients

Garanti BBVA

Akbank

ICBC Turkey

Goldman Sachs

China Development Bank

Standard Chartered Bank

CVC Partners

Mapa Construction

Noatum Logistics

Green for Growth Fund

Work highlights

  • Advised China Development Bank on a $200m term loan made available by CDB to Turkiye Kalkınma ve Yatırım Bankası under the Belt & Road Initiative.
  • Advising Standard Chartered Bank, ING Bank, and Société Générale as lenders on the IBRD-guaranteed loan to be made available to Turkexim.
  • Advising CVC Partners as buyer/borrower on the financing of acquisition of certain ports from Doğuş.

Esin Attorney Partnership, Member of Baker & McKenzie Internatio

Led by the highly-rated Muhsin Keskin, the team at Esin Attorney Partnership, Member of Baker & McKenzie International acts for a number of major international banks and financial institutions in corporate lending, debt restructuring, and regulatory matters. The team is also active on the  borrower side, where it advises corporates and private equity houses on acquisition financing transactions. Of recent note, the team advised on a market-leading Eurobond issue, the first since the Covid-19 pandemic. The firms also stands out in capital markets work. Senior associate Berk Cin is recognised for his expertise in complex syndicated lending and Islamic financing matters.

Practice head(s):

Muhsin Keskin

Other key lawyers:

Berk Cin

Key clients

Société de Promotion et de Participation pour la Coopération Économique

Enerjisa Group

AB Svensk Exportkredit

Akbank

BNP Paribas Fortis

ING Bank

U.S. Overseas Private Investment Fund

Peker Yüzey Tasarımları

Turkey Wealth Fund

Yaşar Holding

Türk Telekomünikasyon

Şeker Gayrimenkul Yatırım Ortaklığı

Garanti BBVA Securities

Mars Cinemas

Koç Holding

Akzo Nobel

Resolute Mining

Ünlü & Co.

Ak Yatırım

Citigroup

Work highlights

  • Advised Turkey Wealth Fund on the acquisition, merger and restructuring of Halk Sigorta, Ziraat Sigorta, and Güneş Sigorta.
  • Advised Türkiye Kalkınma ve Yatırım Bankası and Türkiye Kalkınma Fonu on the establishment of two sub-funds and a private placement to institutional investors.
  • Advised Akbank on the issuance of a $500m Eurobond.

Gedik Eraksoy Avukatlik Ortakligi

Gedik Eraksoy Avukatlik Ortakligi is allied with Allen & Overy LLP, and accordingly acts for a number of international banks and financial institutions, handling a range of complex lending and financing deals, and capital markets transactions, including sukuks. The firm is able to call upon English law expertise, and act in high-value cross-border deals. It also has experience handling innovative structures, a recent example of which was the team's work for Standard Chartered and Bank of America on an ESG-linked syndicated loan. The firm is also notable for its utilisation of legaltech solutions. The practice is led by Hakkı Gedik, with Umut Gurgey also a key player.

Practice head(s):

Hakkı Gedik

Other key lawyers:

Umut Gurgey

Key clients

Bank of America London

The Commercial Bank (P.S.Q.C.)

The European Bank for Reconstruction & Development

International Finance Corporation

Yapi ve Kredi Bankasi

MUFG Securities EMEA

Work highlights

  • Advised Standard Chartered Bank and Bank of America, as arrangers, on an ESG-linked syndicated loan facility for Turkey’s Garanti BBVA.
  • Advising MUFG on a loan and bond issue to finance a hydroelectric power plant.
  • Acting for EBRD, AIIB, BSTDB, Isbank and TSKB, as lenders, on a $350m new financing to cover financing and refinancing of the Efe 6, 7 and 8 geothermal power plants in the Aydin / Germencik region.

GKC Partners (in professional association with White & Case)

GKC Partners (in professional association with White & Case) has strong capabilities in private banking and capital markets work, advising on large-scale and cross-border syndicated loans, mezzanine financings, acquisition finance, and large-scale restructurings in the financial sector, on behalf of a number of major Turkish and international banks and investors. The banking team is led by Güniz Gokce, an experienced practitioner with a broad range of expertise. Practice co-head Derin Altan and Ceren Şen are names to note for capital markets work; the two are particularly active in debt capital markets and structured finance. The 'highly competentAteş Turnaoğlu is also praised by clients.

Practice head(s):

Güniz Gökçe; Derin Altan

Other key lawyers:

Ceren Şen; Ateş Turnaoğlu; Kaan Alkan

Testimonials

‘The team that I and my team work with at GKC Partners is known for providing solution-driven advice innovatively tailored. The team is a combination of solid leadership, communication, and access to good resources which contribute to productive collaboration, but it all comes down to having people who understand each other and work well together. The team at GKC Partners has the right mix of ambition, and encouragement that is crucial for me and my team.’

‘Solution oriented. High skilled, experienced and sufficient number of team members, able to deliver complex tasks meticulously under high time pressure. Excellent level of responsiveness. Good communication skills with clients and counter parties. ’

‘They have been able to coordinate multiple parties in complex deals in a successful manner. They have handled matters very professionally, guiding various parties at once, addressing all of their practical needs and producing creative solutions helping to move forward efficiently rather than following straight instructions.

‘The team is extremely capable of solving every possible problem encountered by all parties including the lenders’ side. While they are protecting the best interest of our company, they act as a mediator to reach to a fast solution. ’

‘Ates Turnaoglu as the partner in our project, handles the process wonderfully. We always got what we aimed for. Kaan Alkan, the assigned associate, brings more value than we envisaged. He is definitely the future star. ’

‘Ates Turnaoglu is highly competent and always reachable at the same time. Never disappointed a bit!’

‘We studied a lot of cases with GKC Partners and they are really good. They make it easy for you at all stages of transactions, you always feel their support so you can trust their abilities and experiences. ’

Key clients

Bank of America Merrill Lynch

EBRD

Turkven

T. İş Bankası

ICA IC İçtaş Astaldi

IC İçtaş İnşaat

China Merchants Group

Goldman Sachs International

Vakıfbank

Yapı ve Kredi Bankası

ESAS Holding

UniCredit

Palgaz Doğalgaz Dağıtım

Mayhoola

UniCredit Bank AG

Barclays Bank PLC

Natixis

Work highlights

  • Advised BAML and the other arranger banks on the syndicated financing of the dual-currency Senior Unsecured Term Facilities equivalent to $455m extended for the refinancing of Ülker Bisküvi Sanayi.
  • Advising ICA IC İçtaş Astaldi on the refinancing of existing loans through refinancing loans to be granted by a consortium of international lenders.
  • Advising Yapı Kredi Bankası on the establishment of a global medium term note programme worth $1.25bn. The amount of the programme was subsequently increased multiple times up to $11bn.

Paksoy

Paksoy's expertise extends across conventional banking and finance transactions, debt and equity capital markets, and Shariah-compliant financing, including sukuk issuances. On the lender side, the team acts for international banks, financial institutions, and Islamic lenders, while borrower-side clients include private and listed companies. Highlights from the past year have included international syndicated lending, club loans, and mezzanine finance. The practice group is led by Ömer Çollak, who heads the capital markets team and has experience of innovative products such as green bonds; and Sera Somay, who oversees the banking and restructuring practices and is recognised as a market leader in several sectors.

Practice head(s):

Ömer Çollak; Sera Somay

Testimonials

‘The firm has outstanding banking & finance & capital markets experience with a variety of domestic and international clients. The team members are very business minded,solution oriented, they have high quality client management skills, they are responsive within short deadlines. ’

‘Sera Somay is one of the outstanding lawyers in Islamic finance in Turkey, she is business minded, fast, pragmatic and solution oriented. When I work with Sera, I feel that I am in safe hands.

‘The Paksoy team is one of the leading Turkish law firms in the area of financing.

Key clients

Albaraka Türk Katılım Bankası

Agence Française de Dévelopement

ABC Islamic Bank

AKA Bank Ausfuhrkredit-Gesellschaft

Akbank

Bank of China

Borusan Holding

BNP Paribas

Bunge

China Development Bank

Çalık Holding

DZ BANK AG Deutsche Zentral-Genossenschaftsbank

FIBA Holding

Finans Financial Leasing

MIGROS

QINVEST

Odeabank

Volkswagen

Turk Eximbank (Export Credit Bank of Turkey)

TFKB

TSKB

Turkish Treasury

SASA

Work highlights

  • Advised Albaraka Türk on sukuk issuances.
  • Advising Volkswagen on the repeat securitisation of auto-loan assets by Turkish consumer finance company, Volkswagen Doğuş Finansman.
  • Advised the joint bookrunners of  Mersin International Port’s Rule 144A/RegS $600m Eurobond offering.

Pekin & Pekin

Led by the vastly experienced finance lawyer Ahmed Pekin, capital markets specialist Özge Okat, and the highly-rated Eda BeltanPekin & Pekin acts for major domestic and international banks, financial institutions, and corporates in high-value and complex banking and capital markets transactions. The team's work on syndicated lending and underwriting stands out in particular; here, it advises large groups of major European banks on large-scale public and private acquisition finance and project finance transactions. Moreover, the group has a wealth of experience advising on innovative products such as cryptocurrency, green bonds, club lending, and government bond issues.

Practice head(s):

Ahmed Pekin; Özge Okat; Eda Beltan

Testimonials

‘We are delighted by Pekin & Pekin’s quick and accurate feedback.’

‘Their thorough and insightful advice is very informative and useful for the structural development of transactions.’

‘Excellent knowledge of the laws whilst remaining commercially minded’

‘Eda Beltan is technically a very good lawyer but also weighs up the commercial aspects of any advice. ’

‘Pekin & Pekin has strong banking and finance expertise and has worked on many international financing transactions.

‘The team in Pekin & Pekin is extremely competent in the area. They are very prompt and accurate in their communications and continues to provide high quality service when facing time pressure.’

‘Eda Beltan is a highly competent lawyer in this area with her practical/pragmatical approach in relation to several complexities brought by the Turkish law requirements.’

‘Very attentive, efficient and generally a pleasure to work with.’

‘Strong legal advice and clear communication’

Work highlights

  • Acted for the underwriters in the Republic of Turkey’s Eurobond issuances.
  • Advised a syndicate of five Nordic Banks on the acquisition finance of DFDS Denizcilik, totalling €830m.
  • Advising Huobi Turkey on business models and regulatory regimes relating to cryptocurrencies.

Akol Law

Akol Law has a diverse service offering, acting on a variety of bank lending, project and acquisition financing, and capital markets transactions, for clients including major Turkish and international financial institutions, banks, and corporate entities. The team has notable expertise in complex syndicated lending, Islamic financing, and PPP arrangements. Names to note include Meltem Akol, an experienced capital markets and corporate finance practitioner, and Ömer Gökhan Özmen and Güneş Yalçın, both of whom have continued to provide additional expertise in project finance and bank lending respectively since their arrival from YaziciLegal in early 2019.

Practice head(s):

Meltem Akol; Ömer Gökhan Özmen; Güneş Yalçın

Testimonials

‘They are highly available at all times. Provide feasible legal solutions to complicated matters and also assist both parties to reach a common ground when there is a deadlock. Young team consisting of talented lawyers who have business perspective. Very good relationship management with counterparties.

‘Omer Gokhan Ozmen- Pragmatic and solution-oriented’

‘The team has strong interpersonal relationships and concentrated expertise. ’

‘Detail oriented expertise for capital markets and finance. ’

‘Their knowledge and experience in field is much better than the other companies. They are always helpful. They get back our queries always on time and with well-prepared work. ’

‘They are always available for our work and we trust their decisions and guidance. Especially, Gunes Yalcin is very helpful to us and his experience in Turkish DCM transactions is a good value for the firm.’

Key clients

Credit Europe

Halkbank

İş Bank

Odeabank

QNB Finansbank

TKYB

TSKB

Turkish Wealth Fund

Vakıfbank

Yapı Kredi

Yıldırım Holding

Borsa Istanbul

Halk Yatırım

HSBC

MIP (Mersin Port)

Turkish Sovereign Wealth Fund

Türkiye Tarım Kredi Kooperatifleri

Work highlights

  • Advised TSKB on the first RegS/144 A Eurobond issuance of the year, totalling $400m.
  • Advised Mersin International Port on its RegS/144 A issuance of Eurobonds amounting to $600m, the last such corporate issuance in 2019.
  • Advised İşbank and TSKB on financing of the construction, development, and operation of Cıngıllı Solar Energy Power Plant in Niğde.

ASC Law Office

ASC Law Office has strengths in acquisition finance, and project and infrastructure financing, working on large-scale deals for Turkish sponsors, banks, and international financial institutions. In particular, the team specialises in high-value energy-sector lending, including cross-border syndicated loans and complex debt restructuring. It also handles capital markets work, including IPOs and debt issues. Okan Beygo oversees the overall banking and capital markets practice and handles a broad range of matters; Denel Balcı Kırali and Levent Yetkil focus on project finance; and Ela Sarı has expertise in syndicated lending, restructuring, and regulatory issues.

Practice head(s):

Okan Beygo; Denel Balcı Kırali; Levent Yetkil; Ela Sarı

Testimonials

‘The team is just exceptionally easy to work with, it’s a genuine pleasure – they are friendly, responsive and incredibly dedicated. ’

‘The team has always given guidance promptly.’

‘The team is really trustworthy, hard working, always gets back with the right guidance and able to give information and solve problems within the whole scope of banking business, not just for treasury business. ’

Key clients

Akbank

Alternatifbank

Deutsche Bank

European Bank for Reconstruction and Development

T.C. Ziraat Bankası

T. Garanti Bankası

T. İş Bankası

Türkiye Sınai Kalkınma Bankası

Vakıflar Bankası

Yapı ve Kredi Bankası

GBI

AG Anadolu Grubu Holding

Akfen Yenilenebilir Enerji

Akfen Holding

Aslancık Elektrik Üretim

Borusan Holding

Boyabat Elektrik Üretim

Doğan Şirketler Grubu Holding

Doğuş Enerji Yatırımları

Doğuş Holding

Work highlights

  • Advised T.C. Ziraat Bankasi on obtaining a syndicated loan from 34 global banks, totalling $1.1bn.
  • Advised AEP Anadolu on restructuring the terms of existing loans to support the long-term financing needs of the client’s fresh fruit plantation and fruit juice processing operations and providing additional loans for working capacity needs.
  • Advised Akfen Yenilenebilir Enerji on a complex structure including acquisition finance and refinancing of an existing loan.

Bezen & Partners

Bezen & Partners is noted in particular for its expertise in project finance, regularly advising lenders and sponsors of large-scale infrastructure, energy, and transportation projects on financing, regulatory matters, and taxation, among other issues. Notable banking clients include the EBRD, Asian Infrastructure Bank, and Black Sea Trade and Development Bank, reflecting the firm's position within the infrastructure and projects space. The all-female senior team is led by English-qualified lawyer Yeşim Bezen, German-born-and-educated project finance specialist Banu Bölükemini, and corporate-focused Murat Soylu, who also handles capital markets transactions.

Practice head(s):

Yeşim Bezen; Banu Bölükemini; Murat Soylu

Testimonials

‘Highly experienced, diligent and efficient in project finance transactions. ’

‘The team is very professional, friendly and approachable. They generate confidence in the advice they provide. They are easy to approach and response times are in line with leading Magic Circle firms.’

‘Yesim Bezen sticks out.  She has the City ways of providing legal advice, at the same time she is hands on and her multiple language skills make it easier for us to communicate with clients, especially when we deal with German clients. She has extensive legal knowledge, is pragmatic and focused and very easy to communicate with. ’

‘The team is very responsive and hands on. The quality of service is more than satisfactory and includes out-of-the-box-thinking. The advice received is not only legally driven but also takes into account commercial needs.’

‘Understands the local dynamics and aligns them with international expectations. ’

Key clients

EBRD

Yıldırım Holding

QNB Finansbank

Akfen Holding

Rönesans Holding

SUEZ Groupe

Mefar İlaç

Enercon GmbH

İş Portföy Yönetimi

STEAG Enerji

Global Financial Markets Association

Work highlights

  • Advised EBRD on a multimillion-dollar facility to the Istanbul Metropolitan Municipality for the construction of the Ümraniye-Ataşehir-Göztepe metro line.
  • Advised KfW IPEX-Banko on its ECA financing of Akfen Renewable Energy.
  • Advised the consortium of the French utility and infrastructure conglomerate SUEZ Groupe and Altaş Group, on the TL57.5m financing of a modern, efficient and sustainable waste management system in historical province, Çanakkale, Turkey to be developed by way of a PPP-model.

DURUKAN+PARTNERS

DURUKAN+PARTNERS advises lenders and borrowers on financing transactions, debt restructuring, disputes, and M&A in the banking sector. The team also handles Turkish bank regulatory matters, project financing, and a range of capital markets transactions for clients including major international banks and financial institutions such as China Development Bank and the IFC. The team is led by dual-qualified (New York) Begüm Durukan Özaydin, an experienced practitioner with broad expertise across bank lending, project finance, restructuring, and corporate finance.

Practice head(s):

Begüm Durukan Özaydin

Testimonials

‘Durukan+Partners team is an excellent team. They provide a seamless service of outstanding quality. The team has been able to cover a diverse range of issues for us (M&A, banking, litigation) over the last few years and has not demonstrated weakness in any area.’

‘Begum Durukan stands out among her peers as being commercially savvy and giving really well structured advice on complex matters. She is able to plough through the complexities to find a clear practical solution.’

Key clients

Ojer Telekomunikasyon A.Ş. and Oger Telecom

European Arab Bank

Arab Bank

International Finance Corporation (IFC)

MasterCard International Incorporated

Emaar Properties PJSC

China Development Bank

Symbiotics

Sovcom Bank

PVH Corp

Work highlights

  • Advising Ojer Telekomunikasyon, majority stakeholder in Turk Telekom, as well as its stakeholder Oger Telecom, on the restructuring of OTAS’ $5.2bn debt to lenders including major Turkish and foreign banks due to the biggest default in Turkey.
  • Advising LetterOne, indirect shareholder in Turkcell on restructuring and shareholding issues and concepts of capital markets laws as they may apply to Turkcell.
  • Advising GroupMed, GroupMed International Holding and their shareholders on indirect changes in shareholding of Turkland Bank and Turkland Sigorta.

Erdem & Erdem Law Office

Erdem & Erdem Law Office advises corporate borrowers, banks, and financial institutions on a range of transactions, including syndicated lending, restructuring, acquisition and corporate finance, and project finance. The team also advises private equity investors. In the capital markets space, the firm has experience of debt and equity instruments, IPOs and secondary offerings, and private placements. The team is led by experienced practitioner Ercüment ErdemOzgur Kocabasoglu is another name to note for corporate finance transactions.

Practice head(s):

Ercüment Erdem

Other key lawyers:

Ozgur Kocabasoglu

Testimonials

‘Erdem & Erdem is a very solid, reliable and good-value firm. They pay attention to detail and have full commitment to the client. They are resilient in negotiations and are creative in providing solid arguments expected of the matter at hand.’

‘I think the team members are extremely responsive and have a solution-focused approach. ’

Key clients

Akbank

Garanti Bankası

İş Bankası

Teknik Aluminyum

Yılport Holding

Trakya Cam

Türkiye Şişe

Yılport Konteyner Terminali MIP

Akbank

Garanti Bankası

İş Bankası

Teknik Aluminyum

Yılport Holding

Trakya

Türkiye Şişe

Paşabahçe

Work highlights

  • Advising Türkiye Garanti Bankası and Türkiye İş Bankası on long-term loan restructuring.
  • Advised Şişecam Group on its financing of €120m by a syndication of financial institutions.
  • Acted for Yılport Holding in its €100m refinancing by Deutsche Bank.

Gökçe

Gökçe's merger with YaziciLegal has expanded its capabilities in domestic and cross-border banking and capital markets work. The firm acts for borrowers and bank lenders in project and corporate financing matters; advises banks on regulatory issues, loan restructuring, and equity investments; and also has expertise across a range of capital markets products. The team is jointly led by Görkem Gökçe, who is active in real estate and corporate financing, alongside special counsel Melike Akan Yüksel, who advises on project and acquisition financing transactions. Hakan Yazıcı advising a number of major clients on transactions since joining the firm with the merger in 2020.

Practice head(s):

Görkem Gökçe; Melike Akan Yüksel

Other key lawyers:

Hakan Yazıcı

Testimonials

‘Availability at all times. Swift responses. ’

‘Melike Akan understands very well what we need.

‘They leave no thought unanswered and take all measures for legal activities.’

‘Excellent knowledge of their work, problem solving skills, respectful, dedicated work’

Key clients

Odea Bank

Türkiye Vakıflar Bankası

Industrial Development Bank of Turkey

MBaer Merchant Bank

CBH Compagnie Bancaire Helvétique

Armada Varlık Yönetim

Mega Varlık Yönetim

Birleşik Ödeme Hizmetleri ve Elektronik

Angora Gayrimenkul Değerleme

Worldpay

Figopara

Layer Technology

Luciano Berlani

Work highlights

  • Advised Worldpay on the cross-border offering of certain capital markets products and services.
  • Advised Çelebi Holding and Angora Gayrimenkul Değerleme on the amendment to a loan facility agreement in an amount up to $42m, with a leading Turkish bank.
  • Advised Odea Bank on the refinancing of an existing loan agreement of up to TL150m granted to a Turkish company engaged in call centre services as borrower and the Croatian shareholders of the same as corporate guarantor.

Hergüner Bilgen Özeke

Hergüner Bilgen Özeke has a broad service offering, advising major Turkish and international financial institutions and corporate borrowers on an array of matters, including project finance, acquisition and corporate finance, equity listings, private placements, and regulatory issues. Particular areas of expertise include Islamic financing, cross-border work, and project financing in regulated industries such as natural resources. Contacts in the team include Ümit HergünerAyşe Hergüner BilgenKayra ÜçerSenem DenktaşPiraye Kuranel BaşolYeşim Fethiye Api Şamlı, and Deniz Tuncel.

Practice head(s):

Ümit Hergüner; Ayşe Hergüner Bilgen; Kayra Üçer; Senem Denktaş; Piraye Kuranel Başol; Yeşim Api Şamlı; M. Mert Oğuzülgen

Key clients

Yapı Kredi

Global Exchange

Borusan EnBW Enerji

EBRD

Banco Santander

Export Development Canada

U.S. International Development Finance Corporation

IFC

EIB

İş Bankası

Olmuksan International Paper Ambalaj

ICBC

Dechert

CNHI International

Tümad Madencilik

Cisco Systems

Telia Company

Taiwan Cement Corporation

Finansbank

Wafra Capital Partners

SYZ Group

Work highlights

  • Advised Global Exchange on its licensing process and on the financing of its investments for its entrance into the Turkish market as well as its expansion process throughout Turkey.
  • Advised EBRD on an amendment to the equity subscription and option agreement for an investment in a Georgian energy company.
  • Acting for Tümad as the borrower and Nurol Holding as the sponsor on the previously financed gold mine project in relation to a refinancing transaction.

YBK Law Firm in Cooperation with CMS

YBK Law Firm in Cooperation with CMS has dedicated banking and capital markets teams, led respectively by Döne Yalcin and Hülya Kemahlı, with able support from counsel Alaz Eker Ündar. The firm primarily advises European banks and financial institutions on investments, transactions, and operations in Turkey, regularly interacting with Turkish regulatory authorities. The capital markets team specialises in debt capital markets work, and also has expertise in contentious matters, such as insider trading and market manipulation litigation. Other areas of focus include cross-border project finance, again largely in Europe, multilateral bank lending, and debt restructuring.

Practice head(s):

Döne Yalçın; Alaz Eker Ündar

Other key lawyers:

Hülya Kemahlı

Key clients

Denizbank

Ziraatbank

Raiffeisen Bank International

Work highlights

  • Advised Denizbank Austria and Turkey on a cross-border project financing extended to the Republic of Serbia to be utilised for the financing, design and construction of two motorway projects.
  • Advised a German energy company on the financing of its listed Turkish public subsidiary engaged in the energy sector.
  • Advised a major Turkish telecoms company on the issuance of multiple bond and lease certificates.

Çakmak Attorney Partnership

Çakmak Attorney Partnership was strengthened by the arrival of co-practice head Devrim Ergun from Verdi Avukatlik Ortakligi in 2020; a move that secured several major new clients and bolstered the team's expertise in structured finance and equity capital markets. Other areas of expertise include project financing and financial services regulatory issues. Also recommended are Zeynep Çakmak, who advises on energy and infrastructure transactions, and Mustafa Durakoğlu, who has expertise in project finance work as well as in online payment platforms. Clients in the payments space include Visa and Western Union.

Practice head(s):

Zeynep Çakmak; Mustafa Durakoğlu; Devrim Ergun

Testimonials

‘The team has a deep knowledge and expertise and they are quite responsive. They are always willing to help and eager to produce tailor made and practical advice.’

Key clients

Landesbank Baden – Württemberg and KFW IPEX – Bank

ERG İnşaat

Akenerji

Visa Europe

Western Union

Bank Julius Baer

Ceska Exportni Banka

China Development Bank

Citibank

China CITIC Bank

Gama Holding and Türkerler

International Finance Corporation

Sumitomo Mitsui Banking Corporation, The Bank of Tokyo-Mitsubishi, Siemens Bank, and Banca IMI

Pico Global

Çelikler Holding

Work highlights

  • Advising LBBW and KfW on the financing of a capacity increase in the Karaburun wind power plant.
  • Acting for ERG, as borrower and sponsor, with regard to the financing of the Ankara-Niğde Motorway Project.
  • Advising CEZ, the shareholder of Akenerji, on the restructuring of existing facilities.

Özdirekcan Dündar Senocak Attorney Partnership

Özdirekcan Dündar Senocak Attorney Partnership is active in a wide range of financing and capital markets matters, including syndicated and bilateral project and acquisition finance, debt capital markets and structured finance. The firm's affiliation with Gide Loyrette Nouel enables seamless service on complex cross-border arrangements, where it acts on behalf of major international banks and financial institutions. The team is led by Arpat Şenocak and Bülent Özdirekcan.

Practice head(s):

Arpat Şenocak; Bulent Özdirekcan

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

Work highlights

  • Advised Rosbank on a complex financing deal structured under Russian law.
  • Advised BNP Paribas on a German law-governed TRY uncommitted loan agreement with a Turkish borrower.
  • Advised Société Générale Milano on bank guarantees to be issued in favour of an Italian aircraft manufacturer regarding an important Turkish defence project.

CCAO

CCAO advises a combination of domestic and international banks and financial institutions, with strong specialisms in project financing, syndicated loans and loan restructuring. The team handles complex financing mandates for Turkish companies, alongside cross-border mandates. The team is led by Onur Taktak and Halide Çetinkaya Yılmaz.

Practice head(s):

Onur Taktak; Halide Çetinkaya Yılmaz

Key clients

JP Morgan Chase

Firstrand Bank

Ing Bank

Garanti Bank

Islamic Corporation For Development

Credit Europe Bank

Dz Bank

Fibabank

Yapı Ve Kredi Bankası

Akbank

Koloğlu Holdi̇ng

Cengiz Holding

Limak Yatırım

Work highlights

  • Advised a consortium of banks on the multijurisdictional re-structuring of the debts of Sanovel.
  • Advised Türkiye Garanti and other lenders on the restructuring of the loans of Derindere Fleet Leasing Company.
  • Advised DZ Bank AG on the financing of İzdem Enerji for the supply of wind turbines.

Gen Temizer Ozer

Led by the internationally-experienced duo of Edmund Emre Özer and Baran GenGen Temizer Ozer's strength lies in corporate and acquisition finance, where the team regularly advising bank lenders and private equity sponsors. Additional expertise includes cross-border investments, acquisitions, and restructurings. The team has also developed niche expertise in litigation financing, including funding provisions for borrowers intending to pursue international arbitration.

Practice head(s):

Edmund Emre Özer; Baran Gen

Other key lawyers:

Mert Elcin

Testimonials

‘I worked specifically with Mert Elcin, who is the dedicated senior lawyer on banking finance matters.’

‘We appreciate their expertise in project financings. For us their strength is that it is a deal focused firm that is led from the front by the partners who are hands on and highly responsive.’

‘Baran Gen combines first class legal knowledge with practical deal-making skills. She puts the focus on the transaction to make sure it is done in the right way. She also fights hard for her clients when it is needed. Edmund Emre Ozer has English law expertise which we appreciate for our cross border financing deals. He has a calm and constructive style of working with great experience in international transactions.

‘We have worked mainly with Emre Edmund Ozer who stands out with his international law background and excellent abilities in drafting and negotiations with international banks in complex financing projects.’

Key clients

Pera Capital

Üstünberk Holding

Earlybird

Aslanoba Capital

Commerzbank

Work highlights

  • Advised Pera Capital on raising acquisition debt finance from Odeabank for the acquisition of a 35% stake in Bimser.
  • Advised Ustunberk Holding on a €45m loan from the IFC.
  • Advised Commerzbank in relation to its unsecured loan facility to Polibak.

Inal Ünver Avukatlik Ortakligi

Inal Ünver Avukatlik Ortakligi is experienced in a variety of financing transactions, ranging from acquisition finance to project finance. The firm's partnership with Norton Rose Fulbright makes it an important piece of an impressive international network, and has brought the firm large-scale syndicated lending and finance work for the a number of foreign banks and financial services institutions. The team is led by Ekin İnal, a highly experienced corporate and banking lawyer who has advised on a number of high-value cross-border transactions.

Practice head(s):

Ekin İnal

Testimonials

‘The team seemed to have an all-round knowledge and was very able to bridge the gap between international finance and Turkish local requirements and practice.’

‘Ekin Inal is very knowledgeable and experienced and a pleasure to work with.’

Key clients

HSBC Bank

International Finance Corporation

Nederlandse Financierings-Maatschappijvoor

Ontwikkelingslanden

National Bank of Kuwait

Bank Audi

Cronus Chemicals

European Bank for Reconstruction and Development

National Bank of Kuwait

PROPARCO

Work highlights

  • Advising a syndicate of lenders led by International Finance Corporation on Turkish elements of the project financing of a waste management, power generation and organomineral fertilizer production project in Turkey sponsored by the Heksagon group of companies.

Kolcuoglu Demirkan Koçakli

Kolcuoglu Demirkan Koçakli acts for lenders and borrowers in bank lending and financing transactions, with notable capabilities in Islamic finance and cross-border lending, particularly in the investment funds space. The team also advises on capital markets regulatory issues and transactions, and has a growing niche in the fintech sector, where it has expertise in the regulation of payment platforms. The 'proactive' team is led by managing partner Umut Kolcuoglu and Bihter Bozbay.

Practice head(s):

Umut Kolcuoğlu; Bihter Bozbay

Testimonials

‘The team is proactive and commercial but absolutely accurate with their advice.’

‘The team has worked at a very high level right from the start. Queries and comments are implemented very quickly.’

‘Works quickly at a very high level. You get a quick response to your inquiries.’

Key clients

Barwa Bank

Iyzico

ING Bank

Mediterra Capital

Toronto Dominion Bank

Landesbank Baden Württemberg International

True Value Capital Partners

Work highlights

  • Advised Barwa Bank on Musawamah financing provided to Kuzu Group.
  • Advised iyzico on banking regulations in terms of e-money and payment services.
  • Advised Mediterra Capital on additional financing provided by İş Bank to Söke Un.

Pekin Bayar Mizrahi

Pekin Bayar Mizrahi advises domestic and international banks and corporates on acquisition and project financing, capital markets transactions, and regulatory issues. The team also provides ongoing corporate advice to banking and financial services companies, and has multi-jurisdictional experience in governance and regulatory issues. The team is led by Selin Bayar, an experienced corporate finance adviser, and Fatoş Otcuoğlu, who specialises in cross-border capital markets transactions.

Practice head(s):

Selin Bayar; Fatoş Otcuoğlu

Key clients

Turkcell İletişim Hizmetleri

Anonim Şirketi

Turkcell Finansman Anonim

Şirketi

Yapı Kredi Bank

Natixis

QNB Finans Finansal Kiralama

QNB Finans Portföy

NatWest Markets

Merkez Subesi

Akbank

Lifecell

Coöperatieve Rabobank

Superonline İletişim Hizmetleri

Danske Bank

İzocam Holding

Work highlights

  • Advised Unifree Duty Free Anonim Şirketi, as borrower, on the refinancing of €125m secured facility provided by Türkiye Vakıf Bankas for the Istanbul Airport project.
  • Advised Yapı ve Kredi Bankası on the  refinancing of a $63m secured facility granted to eleven SPVs incorporated by Zen and Talesun Energy.
  • Advised CEZ as the shareholder of the borrower, Akenerji, on the refinancing of a $1.1m secured facility provided by Yapı ve Kredi Bankası.

Pelister Atayilmaz Enkur Law Office

Pelister Atayilmaz Enkur Law Office advises banks, corporates, and financial institutions on a range of transactional and structuring matters, with particular strength in the restructuring and sale of non-performing loan portfolios. Accordingly, the practice also acts in financial litigation proceedings. The team is jointly led by Kerim Pelister, who specialises in restructuring and corporate finance, alongside Emre Keki, who has particular expertise in acting on cross-border project financing mandates.

Practice head(s):

Kerim Pelister; Emre Keki

Key clients

QNB Finansbank

Turkiye Halk Bankası

Sekerbank

International Finance Corporation

Credit Suisse

Yapi Kredi Bank

Yapi Kredi Leasing

Work highlights

  • Advising Turkiye Halk Bankası, a state-owned bank, on the sale of a TYR250m non-performing loan asset portfolio consisting of consumer loans, corporate loans and bankrupt customers.
  • Advised Sekerbank on the sale of a TRY150m non-performing loan portfolio consisting of SME loans on cash purchase and revenue sharing basis.
  • Advising QNB Finansbank on the sale of an approximately TRY960m non-performing loan asset portfolio, consisting of corporate, SME, personal loans, and credit card debts.

Cigdemtekin Cakirca Aranci Law Firm

The banking and capital finance group at Cigdemtekin Cakirca Aranci Law Firm specialises in regulatory issues and legislative developments, debt and equity transactions, and syndicated lending. The team is led by Gamze Çiğdemtekin Özer, an experienced corporate financing lawyer, alongside Tuna Çakırca, who also has experience across public and private finance transactions.

Practice head(s):

Gamze Çiğdemtekin Özer; Tuna Çakırca

Key clients

Franklin Templeton Investments

CEECAT Capital

Verifone Elektronik ve Danışmanlık

Aabar Investments PSJ

Templeton Asset Management

Edenred Turkey

Gözde Girişim Sermayesi

Görener Family

Çağdaş Holding

Further Network

Work highlights

  • Acted for Goldman Sachs, Wilmington Trust and a syndicate of banks in the financing of the acquisition of Cartonplast Group by DBGA Fund VII.
  • Advised Cevher on financing a loan of €21m for the construction of a new production plant.
  • Advised CEECAT Capital on the advancement of a mezzanine loan.

Güner Law Office

Güner Law Office advises domestic and international banks, various other financial institutions, and corporate borrowers on transactional and regulatory issues. The firm has notable capabilities in financing transactions, syndicated lending, asset-backed finance, and Islamic finance matters, as well as project financing. The team is led by Ömer Erdoğan and Burçak Kurt Biçer, both of whom are adept at cross-border financing matters.

Practice head(s):

Omar Erdoğan; Burcak Kurt Biçer

Key clients

Fiba Holding

Fina Hoding

China Eximbank

Bank of America Merrill Lynch International

Limak

Öksüt Madencilik

Centerra Luxembourg

Denizbank

Türkiye İş Bankası

Türkiye Sınai Kalkınma Bankası

ING Bank

Wells Fargo

Castleton Commodities UK

Raiffeisenbank Bulgaria EAD

Limak Afrika

HSBC Bank France

SACE and SACE FCT

Work highlights

  • Advised Fiba Holding and Fina Holding and its subsidiary on the refinancing and post-refinancing of Swissotel The Bosporus.
  • Advised Export-Import Bank of China on the Export Buyer Credit Loan Agreement between the client as the lender and Vakıfbank as the borrower.
  • Advised Centerra Luxembourg Holdings and Centerra Exploration on the closure of the project finance loan facility granted to the borrower.

Goksu Safi Isik Attorney Partnership

Goksu Safi Isik Attorney Partnership is active in public and private financing transactions, where it regularly advises investors, development companies, and major banks such as Bank of China. The firm is particularly strong in project financing for energy and infrastructure developments. The team is led by Ali Göksu and Fatma Gozde Kardes.

Practice head(s):

Ali Göksu; Fatma Gozde Kardes

Key clients

Kmo Anadolu Otoyol

Bank Of China

Kl Yapi Çeli̇k

Etki̇ Li̇man

Mapa İnşaat

A Ali Investment

Tarim Kredi̇

Cengiz İnşaat

Kolin İnşaat

Çanakkale Otoyol

Is Private

Enerco Enerji

İga Havalimanı İşletmesi

Work highlights

  • Advised Kalyon Holding on the project financing of an integrated photovoltaic module factory.
  • Advised Kalyon Holding on the project financing of a solar power plant.
  • Advised Cengiz Holding on financing an acquisition from British Steel.

IctemLegal

IctemLegal has deep expertise in banking and finance regulatory issues, as well as in transactional and structuring work. The firm is a regular adviser to foreign banks and financial institutions, handling Turkish legal matters for the likes of Volvo Financial Leasing and Dubai Islamic Bank. The team is jointly led by the experienced Serkan Içtem, alongside Sıla Hilal Yılmaz.

Practice head(s):

Serkan Ictem; Sıla Hilal Yılmaz

Testimonials

‘Team has good knowledge and is solution oriented. Always considering deadlines and solving issues in favor of client.’

Key clients

Salvo Grima Group

Türkiye’nin Otomobili

Dubai Islamic Bank

Volvo Financial Leasing

Credit Suisse Investments (Nederland)

De Lage Landen Finansal Kiralama

Bank of Bahrain and Kuwait

NBG Bank Malta

Nurol Yatırım Bankası

Work highlights

  • Providing day-to-day banking and finance regulatory advice to VFS Finansal Kiralama and VFS Finansma.
  • Advising NBG Bank Malta on Turkish law matters.
  • Advised Nurol Yatırım Bankası Anonim Şirketi on an agreement regarding transfer of receivables from the agreement between Total International and Demirören Holding.

Lexist Law Firm

Lexist Law Firm advises lenders and borrowers, including international financial institutions and corporates on project finance and acquisition finance deals. Led by Murat Erbilen, the team has broad expertise across syndicated lending, refinancing, and regulatory issues.

Practice head(s):

Murat Erbilen

Testimonials

‘Lexist consistently provides high quality service. Their punctuality, industry knowledge and to the point advices are just some of the reasons why we continue to work with Lexist. Their professional conduct is highly standardized and in high quality in terms of response times, quality of format and reporting systems.’

‘Murat Erbilen stands out as a brilliant legal advisor. His comprehensive understanding of commercial side of business enables him to take appropriate initiatives that helps us tackle the arising issues. His personal approach towards our firm is both professional and enthusiastic while his level of empathy allows us to fully trust him and Lexist.’

‘An excellent law firm. The team of Murat Erbilen is extremely knowledgeabe and well responsive. ’

‘Murat Erbilen is an excellent partner to work with.’

Moroglu Arseven

Moroglu Arseven specialises in mid-cap financing work for international banking and financial services clients, often utilising particularly complex or unusual structures or customisation elements. The team also handles capital markets listings, venture capital transactions, and regulatory issues, in addition to corporate financing matters for retainer clients. The team is led by experienced banking and finance lawyer E. Seyfi Moroğlu.

Practice head(s):

E. Seyfi Moroğlu

TURUNÇ

TURUNÇ covers a wide range of banking and capital markets work, with specialised expertise both in transactional and regulatory matters. The team advises on corporate finance deals, acquisition finance, and project finance, and is particularly strong in acting for private equity investors. Additionally, the firm acts for capital markets infrastructure providers, including Borsa Istanbul. The practice group is led by Noyan TurunçKerem Turunç, and Ilgin Eroglu Alyanak.

Practice head(s):

Noyan Turunç; Kerem Turunç; Ilgin Eroglu Alyanak

Testimonials

‘Turunc has  people who work so hard for your interest as if it is their own company. ’

‘The partners and associates are very approachable in Turunc which we quite like. You can brainstorm about very different scenarios and they will give you the comparable answers that you are after. Reliability, transparency and intellectual capacity is pretty impressive across the board for Turunc. Kerem Turunc is the partner that we are working very closely. ’

‘Super experienced’

‘Kerem Turunc was magnificently responsive’

‘I am very fond of Kerem Turunc’s team. I like their international background, their flexibility, their versatility – they can advise on a lot of things and manage to know things deeply and for different jurisdictions (Kerem is qualified in NYC, in the UK and in Turkey). This is a unique practice! A small size firm, serving a globalized world. Great time, smooth function, excellent advice.’

‘Excellent lawyers – experienced, well-trained, and good at providing service. Whenever I have an issue, my first call is to Kerem Turunc, no matter the subject. ’

Key clients

Ege Kimya

Regions Bank

Export-Import Bank of Korea

Android Industries

Banco Santander

Borsa Istanbul

Caffè Nero

Camper Shoes

Vinci Venture Capital

Megadyne

SC Johnson

Is Private

Work highlights

  • Advised Vinci Venture Capital on its convertible loan to technology start-up Octovan.
  • Advised Taxim Capital on all of its capital markets compliance needs with respect to its status as a foreign fund operating in Turkey.
  • Advised Tatilbudur and a group of private investors in connection with such investors’ acquisition of a majority of the shares of Tatilbudur from the Polish private equity fund MCI.