Baker McKenzie and its Turkish affiliated firm Esin Attorney Partnership have advised ING Bank, ING-DiBa, and SACE on a EUR 50 million SACE Push Facility for the Izmir Metropolitan Municipality.
SACE is the Italian Export Credit Agency and provides insurance and financial solutions.
According to Baker McKenzie, the facility benefits from an 80% commercial and political risk SACE guarantee and is intended to be used for infrastructure projects by Izmir Metropolitan Municipality.
Based in Frankfurt, ING-DiBa is a German direct bank and ING subsidiary. The ING Group is a global financial institution with a European base, offering banking services through its operating company ING Bank. The bank’s more than 57,000 employees offer retail and wholesale banking services to customers in over 40 countries.
The Esin Attorney Partnership team included Partner Muhsin Keskin and Associate Nihat Aral. Baker McKenzie fielded teams in Germany and Italy.