Yondem ⎮Yigit ⎮Uclertopragi has advised Tersan Tersanecilik Tasimacilik Sanayi ve Ticaret A.S. on a senior loan made to the company by the EBRD to finance the construction of a new floating dock for servicing, repairing, and maintaining commercial maritime vessels near Istanbul. CMS and Yalcin Babalioglu Boso Avukatlik Ortakligi advised the EBRD on the deal.
According to YYU Legal, "the primary purpose of the project is the strengthening of Tersan's competitive position in the maritime vessel maintenance industry in Turkey along with sectoral expansion. Construction of the floating dock will enable Tersan to increase its capacity and achieve international best practice for operation of such facilities. The transaction will support improvements in corporate governance standards and business conduct and, in doing so, is expected to bring significant demonstration effects in the Turkish vessel building and maintenance sector.”
The YBB team consisted of Partner Burcu Boso, Senior Associate Kaan Saadetlioglu, and Associate Deniz Gunes, while the CMS team was led by Partner Ana Radnev.