Istanbul, Turkey, 25 June 2015 – ING extends loan facility
to Izmir Metropolitan Facility for the procurement of light rail
cars following last year's loan facility for the construction
of two urban tram lines.
"We have been advising ING for three years on its ongoing
relationship with the Izmir Metropolitan Municipality involving
financing of the municipality in regards to its acquisition of
ferries and railcars and the development of urban tram lines. It is
thrilling to contribute to the modernization of the transport lines
of one of Turkey's most beautiful cities," commented
The Firm advised ING Bank, a branch of ING-DIBA AG, in relation
to a EUR 23,500,000 MIGA covered term loan facility extended to
Izmir Metropolitan Municipality for the procurement of 85 railcars
to be used in its light rail system. The deal was signed on 18 June
A cross-border team of lawyers from Esin Attorney Partnership,
the Turkish member firm of Baker & McKenzie, and Baker &
McKenzie's Frankfurt office advised on the loan facility.
Banking & Finance Partner Oliver Socher (Frankfurt), Banking
& Finance Partner Muhsin Keskin (Istanbul), Senior Counsel
Anouschka Zagorski (Frankfurt) and associate Berk Cin (Istanbul)
Previously, the Firm advised ING in relation to a EUR 55,000,000
MIGA covered term loan facility to the Izmir Metropolitan
Municipality for its payment obligations in the construction of two
urban tramway lines in Karsiyaka and Konak, two of Izmir's
The Firm also recently advised ING Bank on a USD 244,496,076 and
EUR 311,996,072 multi tranche dual-currency term loan agreement
between ING Bank A.S. and a syndicate of 26 major banks from 11
* * * * *
About Esin Attorney Partnership
Esin Attorney Partnership has long been a leading provider of
legal services in the Turkish market. Today, as a member firm of
Baker & McKenzie, our team of nine partners and more than 60
lawyers is an integral part of a seamless global network. Our
Banking & Finance team is experienced in advising on
acquisition finance, trade and export finance, project finance,
syndicated lending, securitization, restructuring and insolvency,
and other banking and finance matters. The team was recently ranked
in Tier 2 of IFLR 1000's Banking & Finance Turkey
publication after positive feedback from clients.
About Baker & McKenzie
Founded in 1949, Baker & McKenzie advises many of the
world's most dynamic and successful business organizations
through more than 11,000 people in 77 offices in 47 countries. The
Firm is known for its global perspective, deep understanding of the
local language and culture of business, uncompromising commitment
to excellence, and world-class fluency in its client service.
Global revenues for the fiscal year ended 30 June 2014, were
US$2.54 billion. Eduardo Leite is Chairman of the Executive
About ING Group
ING Group is a global financial institution active in banking,
investments, life insurance and retirement services. It has more
than 75,000 employees serving over 48 million private, corporate
and institutional customers in 40 countries across Europe, North
America, Latin America, Asia and Australia. ING-DiBa AG, a
subsidiary of ING Deutschland GmbH, operates as a direct and retail
bank in Germany.
About Izmir Metropolitan Municipality
Izmir is Turkey's third most populous city with a
metropolitan population of 3.9 million. Aziz Kocaoglu is the Mayor
of Izmir Metropolitan Municipality.
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