Turkey

• Acted as legal advisor in syndicated loan transactions to the Agent, Arranger, and Lenders:

  • Societe General S.A. USD 100,000,000;
    
  • Kocbank A.S. USD 200,000,000;
    
  • Turkiye Is Bankasi A.S. USD 300,000,000, USD 250,000,000 (to Agent and Banks), and USD 100,000,000 (to Bank);
    
  • Akbank T.A.S. USD 300,000,000 and USD 350,000,000 pre-export finance syndicated loans;
    
  • Turk Dis Ticaret Bankasi A.S. USD 200,000,000 (to Agent and Finance Parties);
    
  • Turkiye Garanti Bankasi A.S. EUR 240,000,000, USD 325,000,000, and EUR 350,000,000.
    
  Acted as legal advisor in capital markets transactions to the Managers:
  
• Turkiye Ekonomi Bankasi A.S. (TEB) offering of 8,000,000,000 shares in units and global depository receipts;
  
• Export Credit Bank of Turkey USD 350,000,000 notes,
  
• Turkiye Halk Bankasi EUR 150,000,000 bearer notes.
  
• Acted as legal advisor in securitization transactions:
  
  • (to the initial purchaser) Turkiye Garanti Bankasi A.S. USD 150,000,000, and (to purchaser) USD 150,000,000 in diversified payment rights securitization;
    
  • (to arranger, facility agent, security agent, and cash administrator) Turkiye Vakiflar Bankasi T.A.D. USD 150,000,000, and securitization of cross border payment rights,
    
  • (to the arranger) Finansbank A.S. USD 150,000,000 trade and diversified payment rights securitization, and Yapi ve Kredi Bankasi A.S.
    
  Advised in M&A transactions on behalf of acquirer:
• acquisition of a Credit Lyonnais Turkey branch office by the Turkish subsidiary of a major French bank;
  
• incorporated Citibank A.S. and advised Citibank in the acquisition of its branch office in Turkey;
  
• (major US bank in the acquisition of shares of Turk Ekonomi Bankasi A.S., a publicly traded Turkish bank;
  
• major French bank in the acquisition of a major Belgian bank’s shares in a Turkish bank,
  
• acquisition of shares of Bank Ekspress, a Turkish bank.
• Advising on various financings in construction projects:
• in the hotel industry – for example, USD 100 million for the Hotel Renovation Project of numerous hotels around Turkey, USD 30 million for the Hyatt Regency, for the Ciragan hotel and Swissotel projects;
  
• in infrastructure development of motorway projects and highways – many multimillion motorway projects; example, approximately USD 104 million construction of the Ankara-Pozanti motorway project; example, USD 140 million construction of Black Sea Coastal Highway;
  
• in infrastructure development of state roads – multimillion state road projects; example, USD 90 million construction of the Bursa Ring Road;
• Advised in project finance deals:
• for power plant construction and development – for example, in the approximately USD 1.6 billion construction of lignite-fired thermal power plant Elbitsan B, in the USD 942 million Izmit Water Supply Project, in the approximately USD 175 million Doga gas turbine thermoelectric combined cycle TPP, in the Marmara Ereglisi I and II natural gas power plant projects, in many pipeline projects, as well as pumping irrigation, hydro-electric, solar energy, wind power, Windpark, Windfarm, TUPRAS, and environmental protection projects;
  
• for TURKSAT-2A Communication Satellite System, USD 150 million project;
  
• for commercial vehicle manufacturing plants – for example, the USD 105 million such financing.
  
• Advised in multimillion syndicated loan transactions for:
  
  • Turkiye Vakiflar Bankasi;
    
  • Volkswagen Dogus Tuketici Finansmani A.S.;
    
  • Societe General;
    
  • Kocbank A.S. and Koc Holding;
    
  • Turkiye Is Bankasi;
    
  • Akbank T.A.S., Turkiye Garanti Bankasi A.S., and many others.
    
  Advised in capital markets transactions:
• for the issuer in the IPO of major Turkish automotive entity;
  
• registered and launched in the Turkish market various Citigroup, Fidelity Investments, and Franklin Templeton foreign funds;
  
• for the sellers, in the equity offering of the first soccer team to go public Galatasaray;
  
• in the debt offerings of Turk Exim Bank, Iktisat Bankasi, Turkiye Halk Bankasi, Ford Otosan, Coca Cola Bottling Company Turkey.
• Advised in securitization transactions:
• for the Arranger, in the Akbank T.A.S. credit card securitization;
  
• of numerous multimillion diversified payment rights and cross-border payment rights.
• Advised in multiple deals with fixed income debt securities issued by the Republic of Turkey;

• competition filing:

  • and due diligence for the acquisition of Ontex N.V., a Belgian company listed on Euronext Brussels by Candover Partners;
    
  • in the acquisition of Ford Otosan, a publicly traded Turkish car manufacturing company by a major US car manufacturing company;
    
  • on behalf of a Belgian company acquiring a precious metals division of US-based OM Group, Inc.;
    
  Resolved competition and antitrust issues in the following deals involving:
• CPS Color Group OY and Corob SpA;
• Peugeot and Kiraca Otomotiv Sanayi ve Tic. Yatirimlar;
• Northrop Grumman and TRW Group;
• Northrop Grumman and Litton;
• Teradyne and Genrad;
• Schroders Ventures and Henkel;
• Ashurst Morris Crisp;
• Thales Group and Magellan;

• Advise the Lenders to develop, construct, and operate three wind power energy projects – Windfarm, Windpark, and Cesme;
  
• Advise the Lenders in two hydro-electric power plant projects – Deriner Dam and Birecik Dam;
  
• Advise the Lenders in two natural gas power plant projects – Marmara Ereglisi I and II (Enron and Uni-Mar projects);
  
• Advising NCM on the Doga gas turbine thermoelectric combined cycle thermal power plant with an approximate value of US$175 million;
  
• Advise the Arrangers on the financing of the Kayseri-Ankara Natural Gas Pipeline Project;
  
• Advise the Lenders on the Afsin-Elbistan B Lignite Power Plant Project – construction of lignite powered thermal power plant – with an approximate value of US$1.6 billion;
  
• Advise the Lenders on the Izmit Water Supply Project – US$942 million BOT dam, water treatment, pipeline and pumping station project;
  
• Advise the Lenders on the financing of a crude oil pipeline, including advising on a note purchase agreement and a Euro loan facility agreement.
  
• Advising the Lenders in relation to the financing of the Esen II hydro-electric power plant to be built on the Esen river, including the 154KW switchyard and transmission lines;
  
• Advising the Arrangers in relation to the financing of the Bozova Pumping Irrigation Project;
  
• Advising the Arrangers in relation to the financing of the Belen Wind Power Plant Project;
  
• Advising the Arrangers in relation to the financing of the Solar Energy Systems Project;
  
• Advising the Arrangers in relation to the financing of the Atam Alapli Project;
  
• Advising the Arrangers in relation to the financing of the Mariç - Belbir - Marmaris Enviormental Protection Infrastructure Construction and Operation Project;
  
• Advising the Arrangers in relation to the financing of the Isomerization Unit Project for TUPRAS;
  
• Advising the Arrangers in relation to the financing of the New Installation of Continous Galvanizing Line Project for Eregli Demir Çelik.

• Acted as legal advisor in syndicated loan transactions to the Agent, Arranger, and Lenders:
• Societe General S.A. USD 100,000,000;
  
• Kocbank A.S. USD 200,000,000;
  
• Turkiye Is Bankasi A.S. USD 300,000,000, USD 250,000,000 (to Agent and Banks), and USD 100,000,000 (to Bank);
  
• Akbank T.A.S. USD 300,000,000 and USD 350,000,000 pre-export finance syndicated loans;
  
• Turk Dis Ticaret Bankasi A.S. USD 200,000,000 (to Agent and Finance Parties);
  
• Turkiye Garanti Bankasi A.S. EUR 240,000,000, USD 325,000,000, and EUR 350,000,000.
  
• Acted as legal advisor in capital markets transactions to the Managers:
• Turkiye Ekonomi Bankasi A.S. (TEB) offering of 8,000,000,000 shares in units and global depository receipts;
  
• Export Credit Bank of Turkey USD 350,000,000 notes,
  
• Turkiye Halk Bankasi EUR 150,000,000 bearer notes.
  
• Acted as legal advisor in securitization transactions:
• (to the initial purchaser) Turkiye Garanti Bankasi A.S. USD 150,000,000, and (to purchaser) USD 150,000,000 in diversified payment rights securitization;
• (to arranger, facility agent, security agent, and cash administrator) Turkiye Vakiflar Bankasi T.A.D. USD 150,000,000, and securitization of cross border payment rights,
• (to the arranger) Finansbank A.S. USD 150,000,000 trade and diversified payment rights securitization, and Yapi ve Kredi Bankasi A.S.
  
• Advised in M&A transactions on behalf of acquirer:
• acquisition of a Credit Lyonnais Turkey branch office by the Turkish subsidiary of a major French bank;
  
• incorporated Citibank A.S. and advised Citibank in the acquisition of its branch office in Turkey;
  
• (major US bank in the acquisition of shares of Turk Ekonomi Bankasi A.S., a publicly traded Turkish bank;
  
• major French bank in the acquisition of a major Belgian bank’s shares in a Turkish bank,
  
• acquisition of shares of Bank Ekspress, a Turkish bank.
  
• Advising on various financings in construction projects:
• in the hotel industry – for example, USD 100 million for the Hotel Renovation Project of numerous hotels around Turkey, USD 30 million for the Hyatt Regency, for the Ciragan hotel and Swissotel projects;
  
• in infrastructure development of motorway projects and highways – many multimillion motorway projects; example, approximately USD 104 million construction of the Ankara-Pozanti motorway project; example, USD 140 million construction of Black Sea Coastal Highway;
  
• in infrastructure development of state roads – multimillion state road projects; example, USD 90 million construction of the Bursa Ring Road;
  
• Advised in project finance deals:
• for power plant construction and development – for example, in the approximately USD 1.6 billion construction of lignite-fired thermal power plant Elbitsan B, in the USD 942 million Izmit Water Supply Project, in the approximately USD 175 million Doga gas turbine thermoelectric combined cycle TPP, in the Marmara Ereglisi I and II natural gas power plant projects, in many pipeline projects, as well as pumping irrigation, hydro-electric, solar energy, wind power, Windpark, Windfarm, TUPRAS, and environmental protection projects;
  
• for TURKSAT-2A Communication Satellite System, USD 150 million project;
  
• for commercial vehicle manufacturing plants – for example, the USD 105 million such financing.
  
• Advised in multimillion syndicated loan transactions for:
• Turkiye Vakiflar Bankasi;
  
• Volkswagen Dogus Tuketici Finansmani A.S.;
  
• Societe General;
  
• Kocbank A.S. and Koc Holding;
  
• Turkiye Is Bankasi;
  
• Akbank T.A.S., Turkiye Garanti Bankasi A.S., and many others.
  
• Advised in capital markets transactions:
• for the issuer in the IPO of major Turkish automotive entity;
• registered and launched in the Turkish market various Citigroup, Fidelity Investments, and Franklin Templeton foreign funds;
• for the sellers, in the equity offering of the first soccer team to go public Galatasaray;
• in the debt offerings of Turk Exim Bank, Iktisat Bankasi, Turkiye Halk Bankasi, Ford Otosan, Coca Cola Bottling Company Turkey.
  
• Advised in securitization transactions:
• for the Arranger, in the Akbank T.A.S. credit card securitization;
  
• of numerous multimillion diversified payment rights and cross-border payment rights.
  
• Advised in multiple deals with fixed income debt securities issued by the Republic of Turkey;

• Acting on behalf of a German-based major international bank on share sale and purchase of shares of a Turkish telecom operator;
  
• Acted on behalf of a major Italian GSM operator in a US$ 3 billion GSM telecommunication privatization transaction, including successful tender bid for GSM 1800 license; negotiation of concession agreement with telecoms authorities, incorporation of new company, as well as negotiation and finalization of shareholders agreement and funding arrangements;
  
• Advising Lender in connection with its financing of USD 400,000,000 of a GSM 1800 network infrastructure project, to include expansion and operation of a nationwide GSM-based mobile cellular telecommunications network and its supporting infrastructure in Turkey, the funding of working capital requirements and financial restructuring;
  
• Acted for the Agent in the deal for TURKSAT-2A (also known as EURASIASAT-1) Communications Satellite System - US$150 million project financing;

For further information on our achievements please visit http://www.pekin-pekin.com