Akol Law Advises Banks on Vakifbank DPR Securitization

Akol Law Advises Banks on Vakifbank DPR Securitization

Turkey
Tools
Typography
  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Akol Law has advised Barclays Investment Bank, Credit Suisse, J.P. Morgan, ING, Nomura, Societe Generale, and Standard Chartered Bank on VakifBank's DPR securitization, which was valued at USD 1.75 billion. Kramer Levin Naftalis & Frankel reportedly advised Vakifbank on the deal.

The DPR securitization is reportedly the largest ever in the Turkish banking sector. The seven tranches offer maturities between five and seven years, with five of the seven tranches being USD-denominated and two being EUR-denominated. The transaction was rated as “BB+ (Stable)” by Fitch Ratings.

The Akol Law team was led by Partners Gunes Yalcin and Omer Gokhan Ozmen.