The full-spectrum banking, finance and capital markets group at Balcioglu Selçuk Ardiyok Keki is recognised for its strength in unsecured interbank loan facilities (syndicated and bilateral), where it draws on complementary expertise in foreign exchange rules, tax and dispute resolution. Among its other key attributes, the wider firm’s association with the Dentons international network is also a significant draw, particularly for multinational clients. Barlas Balcioğlu co-heads the group and maintains a broad banking and finance practice with a focus on project finance transactions, where he primarily acts for lenders. The department is additionally co-led by Günhan Yalçın and Burcu Boso, both of whom bring to bear over 20 years of experience in representing lenders and borrowers on an array of banking and finance matters. Counsel Ceyda Aydın and senior associate Ceren Akkur Bayram provide specialist support.

The internationally oriented team at CIFTCI Attorney Partnership in association with Clifford Chance acts for an impressive roster of domestic and foreign financial institutions, including commercial banks, and bilateral and multilateral development agencies. Demonstrating a marked emphasis on project finance, the team is primarily noted for its expertise in the infrastructure, healthcare and energy sectors, where it frequently acts in tandem with lawyers from the wider Clifford Chance network. Alongside its projects prowess, the group’s recent experience also spans syndicated financings, Islamic finance, structured finance and capital markets work. Department head Sait Eryılmaz handles a broad range of banking and finance matters, with a focus on project finance and structured finance. At junior level, counsel Gökçe Uzun and senior associates Başar Kırka and Ali Can Altıparmak are all recommended.

During 2022, Esin Attorney Partnership, Member Firm of Baker & McKenzie International, a Swiss Verein doubled the number of partners in its banking team with the arrival of Simon Morgan, who joined from the Moscow office of affiliate firm Baker McKenzie. The lender-focused group continues to stand out for its strong relationships with major domestic and multinational financial institutions such as JP Morgan, HSBC and Akbank. It also routinely acts for corporations – both as borrowers and also as issuers in capital markets offerings. High-profile sector specialist Muhsin Keskin anchors the department and leverages strong skill sets in regulatory and transactional banking, finance and capital markets work; he also spearheads the fintech practice. Also noted is senior associate Zeki Nizam Cebe, who has recently advised international and Turkish banks on various infrastructure projects.

GKC Partners (in professional association with White & Case) is lauded for its ability to ‘solve problems proactively’, while its wider international footprint is also a significant differentiator. Combining standalone offerings in both capital markets and banking and finance, the firm has been particularly active of late in restructurings as well as financings involving the infrastructure, energy and real estate sectors. Güniz Gökçe spearheads the banking and finance practice and leads on the department’s flagship transactions, where she represents lenders, including multilaterals, and corporate borrowers on a range of domestic and cross-border financings. Derin Altan fronts the capital markets group and handles both debt and equity offerings for a mix of issuers and underwriters. Other key names include increasingly prominent finance specialist Ateş Turnaoğlu and structured finance partner Gökçe Uluç.

Clients of Gedik & Eraksoy’s banking, finance and capital markets group benefit from its ability to operate as a standalone practice, while also being able to link up with the Istanbul office of associate firm A&O Shearman. A popular choice for major financial institutions based in the US, Europe, the Middle East and Asia, the team handles a comprehensive spread of acquisition financings, syndicated financings, securities offerings, structured financings and regulatory issues, among other matters. Department co-head Hakki Gedik is sought after for his extensive experience in advising lenders and contractors on infrastructure and energy projects. Fellow co-head Umut Gurgey is highly regarded for his diverse banking and finance expertise, and senior associate Dilsah Gurses and associate Burak Ozsoy are also recommended.

The team at Paksoy is distinguished by its ‘exceptionally strong eye for detail’, according to sources. Equally adept at handling sophisticated finance transactions and complex regulatory work, the full-service practice also impresses with its longstanding relationships with cross-border lenders –  including foreign banks – as well as major corporate borrowers. Sera Somay heads the banking and finance group and specialises in financings, fund-related investments and restructurings. The department additionally fields a dominant capital markets offering, which is steered by go-to specialist Ömer Çollak; he recently advised Ebebek on its headline-grabbing IPO on the Borsa Istanbul. Corporate finance specialist Ökkeş Şahan, recently promoted to partner, is also to note, while Beril Paksoy and ‘up-and-coming talent’ Merve Kurdak are highly regarded senior associates.

ASC Law Office is a strong performer in representing Turkish and foreign lenders and borrowers on local law matters, as evidenced by the addition of eight new clients to the practice over the past year, including Turgut Aydın Holding and Eczacıbaşı Holding. Firm co-founding partner Okan Beygo anchors the team and is a 35-year veteran in the field; notably, he brings to bear significant in-house experience gained during stints at Citibank, Garanti Bank and Doğuş Holding. The three-partner department also includes Levent Yetkil and Ela Sarı, who are both well versed across a broad range of banking, finance and capital markets matters.

A popular choice for both lenders and borrowers, Bezen & Partners has been particularly active in the energy, infrastructure, and real estate and construction spheres of late. The group is additionally noted for its significant international dimension, despite being a local firm, due in no small part to the cross-border expertise of UK-qualified firm founder Yeşim Bezen, who specialises in banking, project finance and structured finance. Other key contacts include Banu Bölükemini, who enjoys close links with client EBRD, where she previously spent five months on secondment; and Murat Soylu, whose practice spans corporate, capital markets and finance. Berkay Sezginci is a capable associate.

The ‘well-connected and knowledgeable’ group at Çakmak Attorney Partnership keeps busy advising on an array of financing transactions, capital markets offerings and regulatory matters. The firm significantly augmented its corporate finance and projects expertise during 2023 through the hire of Gökhan Okan from Verdi Hukuk Bürosu. Okan now jointly heads the department together with banking, finance and debt capital markets partner Devrim Ergun. High-profile projects partners Mustafa Durakoğlu and Mesut Çakmak also have significant banking and finance dimensions to their practices.

Lawyers at Erdem & Erdem Law Office are valued by sources for their ability to provide ‘concise and clear answers’. The firm is traditionally best known for its reputation in the banking and finance field, where it acts for a diverse portfolio of domestic and international lenders and corporate borrowers, but recently bolstered its capital markets offering: in September 2023, İbrahim Onur Baysal – former head of legal at Karsan Holding who previously held an in-house position at the Capital Markets Board of Turkey – joined the firm as leader of the capital markets practice. Senior partner Ercüment Erdem and corporate head Özgür Kocabaşoğlu additionally co-lead the department, with support from managing associate Didem Adlığ.

Hergüner Bilgen Üçer Attorney Partnership houses a thriving capital markets practice, with strong recent experience in representing both issuers and underwriters in domestic and cross-border bond offerings. In a highlight example, group co-head Piraye Kuranel Başol led the department’s advice to Istanbul Metropolitan Municipality on a bond issuance to finance the expansion of Istanbul’s subway lines. On the banking and finance side, the team demonstrates adroit handling of corporate finance, project finance, Islamic finance, and regulatory issues, among others. Fellow department co-head Yeşim Api Şamlı is recommended for both transactional and regulatory work.

Pekin & Pekin’s pioneering record in cross-border banking, finance and capital markets matters is evidenced by its longstanding relationships with global banking heavyweights such as Goldman Sachs, HSBC and Deutsche Bank – all of whom it has been advising for over two decades. The group also counts multilaterals, alternative lenders and corporate borrowers among its extensive client roster. Following the recent departure of department co-head Eda Beltan, Göze Yıldırım solely leads the group and is particularly recognised for her growing reputation in the capital markets sphere; notably, she had a key role in representing the underwriters on all of the Republic of Turkey’s Eurobond issuances. Senior associate Göksu Gökay left in November 2022.

Pekin Bayar Mizrahi’s alliance with Norton Rose Fulbright continues to bear fruit following its 2021 tie-up. Among its recent gains, the group won HSBC Bank Middle East, UAE as a new client when it teamed up with the Dubai office of its international partner to support a $50m murabaha facility granted to a Turkish textile conglomerate. Selin Bayar (who co-heads both the corporate and M&A practice, and the banking, finance and capital markets group) co-led the HSBC transaction alongside up-and-coming finance specialist Fatoş Otcuoğlu. Other key contacts include Utku Ünver, whose work spans finance, private equity and corporate matters, and senior associate Damla Çay — both are on secondment from Norton Rose Fulbright’s Istanbul office. Senior associate Zeynep Tezan left the firm in 2022.

Akol Law impresses with its track record in representing issuers in flagship capital markets offerings, including IPOs. It also stands out for its experience in acting for foreign corporates on the sale of equity and debt securities to investors in Turkey. Managing partner Meltem Akol is widely recognised as a market leader for capital markets work, with recent activity in Eurobond offerings, IPOs, secondary offerings and structured finance products. Senior associate Denizhan Budak provides specialist support on both capital markets transactions and regulatory matters.

CCAO oversees transactional and advisory matters for a broad base of domestic and foreign banks and financial institutions. The group also frequently advises corporate lenders, particularly in the energy, infrastructure and real estate spheres. A former in-house lawyer at Yapı Kredi Bank, Onur Taktak leverages over 25 years of experience in the banking and finance field. Other key contacts include up-and-coming specialist Candemir Baltalı; dual-qualified (Turkey and New York) corporate, finance and energy partner Begüm Yörükoğlu; and Halide Çetinkaya, who handles corporate and finance work. Onur Görkem Köksal was recently promoted to senior associate.

The seven-lawyer group at DURUKAN+PARTNERS stands out for its regulatory capability, where it is well placed to handle both compliance issues and banking litigation. The team also secures a steady stream of transactional mandates, including corporate loans, structured finance and insolvency-related work. Founding partner Begum Durukan Ozaydin spearheads the practice and combines skill sets in corporate and financial law. Associate Furkan Ergün provides key support.

Primarily active on behalf of corporations, Kolcuoglu Demirkan Koçakli houses a prominent issuer-side capital markets practice. The group also routinely advises corporate borrowers on loans, leasing issues and other finance-related matters. Less frequently, the team acts for financial institutions on banking, finance and capital markets work. Managing partner Umut Kolcuoğlu has strong experience in domestic and cross-border transactions and co-heads the department alongside increasingly prominent capital markets and structured finance specialist Hasan H. Yaşar. Senior associate Eda Saraçoğlu ‘can handle every project’.

Özdirekcan Dündar Şenocak Ak in partnership with Gide Loyrette Nouel’s association with international firm Gide Loyrette Nouel is reflected in a client roster that is primarily composed of international — particularly France-based — clients, including IFC, BNP Paribas and Société Générale. That being said, the group also has experience in representing domestic financial institutions and corporate borrowers. Department co-head Arpat Senocak specialises in corporate and finance transactions, with an emphasis on project finance, corporate loans and capital markets work. Bülent Özdirekcan co-heads the practice and contributes significant expertise in tax and restructuring matters. Associate Mehmet Kösoğlu provides support.

ÖzmenYalçin has hit the ground running following its establishment in March 2022. In particular, it posted an impressive performance on the equity capital markets side, where it has completed 12 IPOs since its launch. The practice also houses a thriving debt capital markets practice, while on the banking and finance side it has strong experience in representing lenders and borrowers on project and acquisition finance transactions, among other matters. Increasingly prominent sector specialists Ömer Gökhan Özmen and Güneş Yalçın co-lead the department. Younger partners Handan Bacıoğlu, Murat Ayyıldız and Damla Keskin Şerbetcioğlu are also noted.

Among TURUNÇ’s strong suits, it demonstrates a robust regulatory and compliance offering, particularly in relation to fintech and e-payment services. The group also shines in matters intersecting corporate and finance work, including private equity and VC investments. Key names include founding partner Noyan Turunç, whose international experience was honed during in-house roles at various US multinationals including Boeing; Kerem Turunç, who is qualified in Turkey, New York, Washington DC and the UK; İltem Dokurlar, who is noted for capital markets; and counsel Ilgın Eroğlu Alyanak, who splits her practice between Washington DC and Istanbul.

YBK Law Firm in Cooperation with CMS advises both lenders and borrowers on banking and finance transactions, with the ability to lean on its international network for support in cross-border transactions. The department also houses an active capital markets practice, which recently represented AFD on Türkiye Kalkınma ve Yatırım Bankası’s first sustainable bond – capital markets head Hülya Kemahlı led the offering, aided by counsel Arcan Kemahlı and associate Zeynep Berin Manavgat. The group further includes firm co-founders Döne Yalcin, who handles the full gamut of financing transactions, and Alican Babalıoğlu, who focuses on private equity and capital markets, as well as Alaz Eker Ündar, who routinely represents lenders.

A well-established stalwart of Turkey’s banking and finance scene, Cigdemtekin Cakirca Aranci Law Firm enjoys good links with international referral partners, ensuring that it is frequently involved in cross-border work. Equally adept at transactions and regulatory matters, the group additionally stands out for its growing fintech practice. Corporate finance partner Gamze Çiğdemtekin Özer co-heads the practice together with Tuna Çakırca Engur, who has an emphasis on capital markets law.

‘A deal-focused firm’, Gen Temizer combines robust local experience with solid international expertise. The practice demonstrated its commitment to growth during 2023 with the hire of new department co-head Ömer Erdoğan from Güner Law Office. The group’s growing profile was further illustrated by its 2023 appointment to EBRD’s legal panel, while it also won BNP Paribas and Binance as new clients. Other key names includecorporate and finance partner Baran Gen and managing associate Dila Topuz. Former department co-head Müfit Arapoğlu left to join the London-based Fladgate LLP. Since publication, Edmund Emre Özer and Mert Elçin left the firm.

Gökçe finds favour for its ‘deep understanding of the fintech industry’, where it acts for leading domestic and multinational names such as Figopara. The group also possesses extensive experience of representing corporate borrowers on lending transactions. Managing partner Görkem Gökçe is noted for his broad practice, which takes in corporate transactions, project finance and technology-related work. Ali Paslı also has experience in banking and capital markets law.

Güner Law Office’s close referral relationships are reflected in its recent banking and finance work, which includes advising major global financial institutions and corporations on local law issues. The practice is led jointly by Burçak Kurt Biçer, who has a focus on banking, finance and project-related matters, and Eren Ertem, who recently joined from Somay Hukuk Bürosu.

Benefitting from its strong footprint in highly regulated industries, Lexist Law Firm’s banking and finance group has a significant emphasis on regulatory matters, particularly fintech-related issues. The team also handled a significant volume of equity offerings on behalf of issuers over the past year, with a focus on the healthcare, consumer products and energy spheres. Department head Murat Erbilen possesses broad experience in financial services, including project finance, payment services and Islamic finance, while Mesut Kaya specialises in regulatory work. Meysa Yamakoğlu is also noted.

Moroglu Arseven’s active corporate finance practice strikes a balance between transactional and regulatory work. The team routinely acts for an array of borrowers, issuers, lenders, fintechs, payment service providers and funds, with notable experience in cross-border transactions. Corporate and finance partner Seyfi Moroğlu heads a team that also includes Hazal Baydar, whose broad practice takes in banking, finance and projects, and senior associate Burcu Güray, who is noted for capital markets regulation. Corporate and M&A specialist Burcu Tuzcu Ersin and senior associate Sevi İslamageç advise venture capital funds.

The compact but effective capital markets practice at Namli & Kayum & Demir Attorney Partnership impresses sources with its ‘immense ability to conjure capital markets structures in strict conformity to the regulations’. Predominantly active on behalf of issuers and selling shareholders, the group is well versed in both debt and equity offerings. Kaan Demir spearheads the department and handles a mix of corporate and capital markets work. The group additionally draws on corporate partner Begüm Kayum Ağar, who also handles capital markets transactions, and supporting associate Mert Ceylan.

Established in 2021, boutique firm Okat Law enjoys close links with domestic and international banks, corporate issuers, asset management companies and fintechs, among other financial services clients. The group is primarily recognised for its work in the capital market sphere, where department head Yalçın Özge Okat is noted for his strong track record in IPOs.

Praised for its ‘tailor-made solutions’, Pelister Atayilmaz Enkur Law Office’s banking group is well-positioned to handle distressed debt and bankruptcy-related transactions, where it can act hand-in-hand with its prominent corporate restructuring practice. Kerim Pelister contributes experience in corporate, finance, energy and restructuring matters, co-heading the department together with Fazil Ciftci, who splits his practice between banking, litigation and bankruptcy law.