Balcıoğlu Selçuk Akman Keki Avukatlık Ortaklığı (“BASEAK”) advised Tiryaki Agro Gıda Sanayi ve Ticaret A.Ş. (“Tiryaki Agro”), Turkey’s leading agricultural products exporter, on its comprehensive refinancing of USD 230 million extended by a syndicate led by ABN AMRO Bank N.V and separately by a group of uncommitted lenders on 28 March 2018.  Other lenders include the Dutch development bank FMO, EBRD, HSBC A.Ş., Rabobank, Societe General, Amsterdam Trade Bank, Credit Suisse, British Arab Commercial Bank, and Gazprombank.

Tiryaki Agro utilized a USD 175 million borrowing base loan facility provided by syndicated committed lenders led by RBS N.V. and separately by a group of uncommitted lenders on 2011 which has been re-financed with a USD 250 million borrowing base loan facility provided by syndicated committed lenders led by ABN AMRO Bank N.V. and separately a group of uncommitted lenders on 2014. We are very happy to have acted on this 3rd time re-financing of Tiryaki Agro again led by ABN AMRO Bank N.V. which demonstrates high and continued interest of the foreign and local lenders in this borrowing base financing and Tiryaki Agro.

Tiryaki Agro is a company established in Gaziantep in 1965 and 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.

Yasemin Saris, Counsel in our banking and finance team, led the transaction together with Senior Associate Arzu İnoglu, and Associate Sena Mutlu.

About Balcıoğlu Selçuk Ardıyok Keki

Balcıoğlu Selçuk Ardıyok Keki Attorney Partnership is an Istanbul-based full service law firm with a team of 130+ lawyers and economists. Our practice focuses on a wide range of areas including real estate, corporate, mergers and acquisitions, banking, project finance, capital markets, competition and anti-trust, employment, litigation and arbitration, telecommunication, regulatory and public law and intellectual property. We represent and advise Turkish and multinational clients, including Fortune 500 companies, in the banking and finance, private equity, real estate, manufacturing, hospitality and leisure, retail, automotive, energy, information technology, life sciences, luxury fashion and beauty, and media sectors.