The Esin Attorney Partnership and Baker McKenzie have advised a syndicate of 37 international banks, including Bank of America Merrill Lynch International Limited as Sole Bookrunner and Documentation Agent, on EUR 800 million and USD 411 million dual currency term loan facilities provided to Yapi ve Kredi Bankasi A.S. The deal was signed on October 9, 2017.
According to the Esin Attorney Partnership, the transaction involves "two 367-day facilities and two 2 year + 1 business day facilities, denominated in US dollars and euros, paying all-in spread of 135 bps, 125 bps, 220 bps and 210 bps respectively."
In addition to its role as Sole Bookrunner and Documentation Agent, Bank of America Merrill Lynch was Joint Coordinators with ICBC Yaitirim, and UniCredit Bank AG acted as Facility Agent for the facilities, which refinances Yapi Kredi’s previous syndicated loan facilities, which were signed on October 4, 2016.
The transaction was led by Paris-based Baker McKenzie Partner Michael Foundethakis and Esin Attorney Partnership's Head of Banking & Finance, Partner Muhsin Keskin. The team also included Senior Associates Luka Lightfoot (London) and Thomas Lefebvre (Paris) and Associates Max Jones (London), Berk Cin (Istanbul), and Erdi Yildirim (Istanbul).
The Esin Attorney Partnership and Baker McKenzie also advised the lenders on a separate USD 155 million term loan facility to Yapi Kredi, also signed on October 9 (as reported by CEE Legal Matters on October 24, 2017).
