A team of lawyers from Baker & McKenzie has advised ING Group's Turkish subsidiary on a syndicated loan obtained for trade finance purposes.
The firm advised ING Bank Turkey on a USD 134.4 million and EUR 263.4 million dual tranche dual-currency term loan agreement between the bank and a syndicate of 23 major banks from 11 countries. Akbank., Bank of America Merrill Lynch, Bank of China (UK), The Bank of Tokyo-Mitsubishi UFJ, Barclays, Goldman Sachs, HSBC, J.P. Morgan, Standard Chartered, Turkiye Halk Bankasi, and Wells Fargo were the mandated lead arrangers. A further 12 banks committed to the deal at various levels. The deal was signed and closed on March 19.
A cross-border team of lawyers from Esin Attorney Partnership — the Turkish member firm of Baker & McKenzie — and lawyers in Baker & McKenzie's Paris office advised on the loan agreement. Leading the team advising ING Bank Turkey were Partners Muhsin Keskin in Istanbul and Michael Foundethakis in Paris. Associates Tugce Ugurlu (in Istanbul) and Jennifer Venet (in Paris) provided support.
"This is the 11th transaction the Istanbul office has advised ING Group on in the last two years, and our team's success has, once again, further cemented our relationship with ING Group in Turkey and globally," commented Keskin.
