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BASEAK Advises Tiryaki Agro on a Long-Term Loan Facility

BASEAK Advises Tiryaki Agro on a Long-Term Loan Facility

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Baseak has advised Tiryaki Agro Gida Sanayi ve Ticaret A.S., a Turkish agricultural products exporter, on a long-term loan facility of USD 65 million, extended by a syndicate led by Dutch development bank, FMO, the EBRD, and Proparco. The lenders were advised by lawyers from Hogan Lovells's offices in London, the Netherlands, and UAE.

Tiryaki Agro utilized a USD 50 million long-term loan facility provided by syndicated lenders led by FMO in 2012 to finance the acquisition of lands and construction of certain processing and storage facilities located in four regions in Turkey. The loan was re-financed with a USD 65 million long-term loan facility executed on March 23, 2018, to finance the general working capital needs of Tiryaki Agro.

Tiryaki Agro is a company established in Gaziantep in 1965, which according to Baseak, "became one of the most important sector player in Turkey in processing agricultural products.” Tiryaki expanded its operations in Turkey and around the world with production and warehousing activities in 18 facilities, importing from 25 countries and exporting to 80 countries.  

Tiryaki Agro was advised by BASEAK Counsel Yasemin Saris, Senior Associate Arzu Inoglu, and Associate Sena Mutlu.

Editor's Note: After this article was published, the Akol Ozok Namli Attorney Partnership informed CEE Legal Matters that it worked alongside Hogan Lovells in advising the lenders.

 

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