Istanbul, Turkey, 30 June 2015 – A team of lawyers from
Esin Attorney Partnership, a member firm of Baker & McKenzie
International, advised Burgan Bank A.S. on its inaugural syndicated
loan obtained for general trade finance purposes.
The Firm advised Burgan Bank A.S. (Burgan Bank Turkey) on a USD 77
million and EUR 42 million syndicated multi-tranche dual-currency
term loan agreement between Burgan Bank and a syndicate of 12
banks. Arab Banking Corporation (B.S.C.); Commerzbank
Aktiengesellschaft, Filiale Luxemburg; HSBC BankMiddle East Ltd;
and Mashreqbank psc were the mandated lead arrangers and
bookrunners. The deal was signed and closed on June
25.
Partner Muhsin Keskin from Esin Attorney Partnership, the Turkish
member firm of Baker & McKenzie, and Partner Michael
Foundethakis from Baker & McKenzie's Paris office advised
on the loan agreement. Associates Berk Cin (Istanbul) and Gonzague
Basso (Paris) provided support.
"We are proud to advise Burgan Bank on their first syndicated
loan in Turkey. This transaction marks our rapidly increasing
activity in the Turkish bank syndications market. While Eurobonds
are becoming increasingly popular for Turkish banks as a funding
source, syndicated loans are still the easiest, quickest and most
practical sources of funding. We are proud to be advising on these
transactions which are creating new avenues for Turkish banks to
fund the national economy," commented Banking & Finance
partner Muhsin Keskin.
Burgan Bank AS's majority shareholder, the Burgan Bank Group,
is a Kuwait-based financial services group and a leading financial
services provider in the Middle East and North Africa (MENA) with
four other majority-held subsidiaries in Algeria (Gulf Bank
Algeria), Iraq (Bank of Baghdad), Jordan (Jordan Kuwait Bank), and
Tunisia (Tunis International Bank). Established in 1977, Burgan
Bank S.A.K. is the youngest commercial Bank based in Kuwait, with a
significant focus on the corporate and financial institutions
sectors, as well as having a growing retail and private bank
customer base.
About Esin Attorney Partnership
Esin Attorney Partnership has long been a leading provider of legal services in the Turkish market. Today, as a member firm of Baker & McKenzie, our team of nine partners and more than 60 lawyers is an integral part of a seamless global network. Our Banking & Finance team is experienced in advising on acquisition finance, trade and export finance, project finance, syndicated lending, securitization, restructuring and insolvency, and other banking and finance matters. The team was recently ranked in Tier 2 of IFLR 1000's Banking & Finance Turkey publication after positive feedback from clients.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the world's most dynamic and successful business organizations through more than 11,000 people in 77 offices in 47 countries. The Firm is known for its global perspective, deep understanding of the local language and culture of business, uncompromising commitment to excellence, and world-class fluency in its client service. Global revenues for the fiscal year ended 30 June 2014, were US$2.54 billion. Eduardo Leite is Chairman of the Executive Committee. (www.bakermckenzie.com)
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Esin Attorney Partnership is a member of Baker & McKenzie International, a Swiss Verein with member law firms around the world. In accordance with the common terminology used in professional service organizations, reference to a "partner" means a person who is a partner, or equivalent, in such a law firm. Similarly, reference to an "office" means an office of any such law firm.
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