Bener Law Office would appear to be a firm very much on an upward trajectory, with many in the market remarking that, across the board, it is improving. Although not moved this year, Bener is pushing at promotion in all areas and in banking and capital markets especially....
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Bener Law Office would appear to be a firm very much on an upward trajectory, with many in the market remarking that, across the board, it is improving. Although not moved this year, Bener is pushing at promotion in all areas and in banking and capital markets especially.
"We did an IPO with Bener and they are good. They are trying to enlarge their practice," comments one partner, while another describes them as having "excellent personal skills" and as "solid."
In project finance, a partner remarks that Bener is "large and aggressive, and could possibly go up to tier two," while in banking one peer reports: "Bener, on the strength of its work, and the fact they do a lot of deals, could be looking to tier one."
In banking, a good deal was a long term one, advising both World Bank and the IFC (International Finance Corporation) on a number of loan facilities extended to Turkish banks across both 2010 and 2011. Head of department Win Michaelsen and partner Gozde Esen Sakar acted on these deals, which represented an overall value of $110 million.
In capital markets, the firm worked on both sides, advising Kiler Retail on its $72.6 million IPO in January 2011 and a major Turkish holding company as issuer on a confidential international bond offering. The team also got involved in some confidential structured finance work, advising the issuer bank on a number of SME loan securitisations.
On the corporate side Bener has been advising US company Tiger Global Management on three different investments into Turkey throughout 2010, as well as acting for global internet giant eBay on its acquisition of Gitti Gidiyor, Turkey's largest online retailer.
The projects team highlight mandate saw a team led by partners Onur Kordel and Gozde Esen Sakar acting for the Kolin-Limak-Cenzig consortium as borrower on the $2.2 billion financing of the purchase of two privatised electricity distribution companies, UEDAS-CEDAS.
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