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Pekin & Bayar Law Firm

Esen Irtem Karagoz

Esen Irtem Karagoz

İncome Sharing Partner

Expertise

  • Banking and Finance Law
  • Commercial Law, Corporate Law, Business Law
  • Foreign Investment Law, International Trade

WSG Practice Industries

Activity

Profile
Esen Irtem works in both cross-border and domestic financing transactions including acquisition, project, corporate finances, asset financing or other hybrid financings, by representing lenders and borrowers related to various types of loans such as FI loans, bilateral, club or syndicated loans, Islamic or conventional based lending, secured, unsecured or ECA covered loans. She has significant experience at murabaha syndications of Turkish participation banks and Turkish corporates.
She provides on-going legal consultancy for various reputable local and international clients, mostly consisting of banks, financial institutions and corporate clients, including The Royal Bank of Scotland N.V. Finans Leasing and Finans Securities, Burgan Asset Management, Is Asset Management, Turkcell, Turkcell Financing Company, POAS and Michelin.
Ms. Irtem regularly advises on ISDA, CTA and other OTC transactions. She also involved in major bond issuances by Turkish and foreign banks in and outside Turkey.
Ms. Irtem specialises in debt restructuring of Turkish companies together with the Turkish banks and financial institutions in recent years.
She joined a secondment program at an international law firm, working with the EDM, M&A and project finance and infrastructure practice groups in the firm's London and Munich headquarters. During her secondment practice she enriched her experience by being involved in multi-jurisdictional deals. Esen Irtem is also one of the authors in The Lending and Secured Finance Review and ICLG Lending &Secured Finance for the chapter of Turkey

Bar Admissions

Istanbul Bar Association

Education

Galatasaray University School of Law, LLB., 2007
Areas of Practice

Banking and Finance Law | Commercial Law, Corporate Law, Business Law | Foreign Investment Law, International Trade

Professional Career

Significant Accomplishments

• Represented EDC, JBIC, US Ex-Im Bank, CESCE, SACE, NEXI and K‐Sure together with other domestic and foreign banks and financial institutionsfor the commercial facility up to USD $3.29bn to finance STAR refinery project of the State Oil Company of the Azerbaijan Republic (SOCAR) and the Ministry of Economy and Industry of the Republic of Azerbaijan
• Represented ECAs including Euler Hermes, SACE, SERV, COFACE and Bpifrance, French public investment bank, in various corporate/commercial financings of Turkish companies (including Turkish banks such as Turkiye Is Bank), together with Turkish and/or foreign banks including ING Bank, a Branch of ING-DiBa AG, ING Bank N.V., Amsterdam, HSBC Bank PLC, BNP Paribas Fortis SA/NV
• Represented various syndicated banks including HSBC Bank, Garanti Bank, ING, Yapı Kredi Bank, TEB, Finansbank, Odeabank, Akbank, Turkiye Is Bank in their syndication loan for reputable Turkish companies in iron steel industry sector and represented Vakıfbank, Ziraatbank, Halkbank and Isbank in their syndication loan for debt restructuring purposes in favour of a major worldwide company in iron casting sector
• Represented various Turkish banks including Yapı Kredi Bank, TSKB, Turkiye Is Bank and Akbank for project finance loans in favour of SPVs or group companies of major conglomerates such as Zen Enerji (related company of Tekfen), Borusan Holding, Bainbridge, Maya Holding in relation to the construction and development of power plants (such as hydroelectric, coal thermal etc.) and large shopping malls in major cities of Turkey
• Represented (i) Abank (Borrower) in its various financings such as IFC and EFSE senior loans, bilateral and syndicated loans from international financial institutions including Commerzbank, Abu Dhabi Commercial Bank PJSC, (ii) Ziraat Bankası (Borrower) in its various financings including its syndicated loan with the participation of 41 banks from 19 countries, (iii) Aklease (Borrower) for its financing from Proparco, (iv) Mizuho Bank (Borrower) for its financing from Turk Eximbank, (v) Finans Financial Leasing (Borrower) for its various financings from EIB, IFC, FMO and Proparco, (vi) Turkcell and Turkcell Finansman (Borrower) in various financings for corporate and commercial purposes from domestic and foreign banks and/or financial institutions through direct lending or derivatives.
• Represented JLMs in various offerings by Turkish banks including a Global Medium-Term Notes (GMTN) Program to issue bonds up to USD 1.75m by Isbank, a USD 500m senior unsecured notes and a USD 250m tap offering by Isbank, a USD 750m senior unsecured notes by Halkbank, a USD 500m senior unsecured notes and a USD 1 bn subordinated notes by Yapı Kredi, a USD 500m senior unsecured notes by Isbank, a USD 500m senior unsecured notes and a USD 1 bn notes by Akbank
• Represented QInvest LLC (Mezzanine Lender) in a murabaha facility to one of the major energy companies for the acquisition of another energy company involved in hydroelectric power plants
• Represented JLMs including ABC Islamic Bank (E.C.), Barwa Bank Q.S.C., Emirates NBD Capital Limited, Kuwait International Bank K.S.C., Standard Chartered Bank in various murabaha financings to the Turkish participation banks including Türkiye Finans Katılım Bankası, Albaraka Türk Katılım Bankası, Kuveyt Türk Katılım Bankası and represented various Turkish participation banks including Türkiye Finans Katılım Bankası Ziraat Katılım Bankası (Borrower) in its major syndicated club murabaha financings


Professional Activities and Experience

April 2008 – September 2016 Senior Associate at Paksoy Law Firm
July 2011 – September 2011 Associate at Linklaters (London, Munich)
August 2007 – April 2008 Associate at ELIG Attorneys at Law

Articles

Esen Irtem is also one of the authors in The Lending and Secured Finance Review and ICLG Lending &Secured Finance for the chapter of Turkey


WSG's members are independent firms and are not affiliated in the joint practice of professional services. Each member exercises its own individual judgments on all client matters.

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