Baker & McKenzie and Paksoy Advise on Second Burgan Bank Syndicated Loan

The Esin Attorney Partnership, a member firm of Baker & McKenzie International, has advised Burgan Bank on on a USD 87 million and EUR 57 million syndicated multi-tranche term loan agreement with 13 banks from 8 countries. Paksoy advised the lending banks on the deal, with Hogan Lovells advising on English law aspects.

The banks were led by HSBC, acting as coordinator, Arab Banking Corporation (B.S.C.), acting as agent, and  Commerzbank Aktiengesellschaft, Filiale Luxemburg, HSBC Bank Middle East Limited, and Mashreqbank PSC acting as initial mandated lead arrangers and bookrunners.

This is the second syndicated loan on which the Esin Attorney Partnership and Baker & McKenzie have advised Burgan Bank, following a similar syndicated multi-tranche dual-currency term loan agreement last summer (as reported by CEE Legal Matters on June 30, 2016). According to Esin Attorney Partner Muhsin Keskin, who led his firm’s team on the deal along with Paris-based Baker & McKenzie Partner Michael Foundethakis, “we are proud to advise Burgan Bank on their second syndicated loan in Turkey. This transaction marks our market leader position for FI syndications in Turkey. It is also an excellent indicator of international financial institutions’ trust in the Turkish economy and banking system despite the coup attempt and S&P’s subsequent downgrading of Turkey’s foreign currency rating.”

The Paksoy team consisted of Partner Sera Somay and Senior Associate Ozlem Barut, supported by Associate Soner Dagli.

Last modified onMonday, 15 August 2016 08:05
back to top


News By Practice Area

Legal Analysis By Country

Legal Analysis By Practice Area

About Us

Contact Us