Baker McKenzie Turkish affiliate Esin Attorney Partnership, working with Hogan Lovells, has advised the US International Development Finance Corporation on a USD 100 million term loan facility for Sekerbank.
The seven-year loan will be used for on-lending, primarily towards women-owned businesses and SMEs, with a priority on the region affected by the February 6 earthquakes.
Sekerbank was founded in 1953 as the Sugar Beet Cooperative Bank in Eskisehir, Turkey. In 1956 the bank relocated to Ankara and was renamed to Sekerbank. The initial public offering of the bank was carried out in 1997.
The United States International Development Finance Corporation is a development finance institution and agency of the United States federal government. The DFC invests in development projects primarily in lower and middle-income countries.
The Esin Attorney Partnership team included Partner Muhsin Keskin and Associates Seray Karaalp and Oyku Ruya Turkogullari.