Ateş Turnaoğlu

Association Partner, Istanbul

Biography

‘Ateş Turnaoğlu is an exemplary, hard-working attorney with great legal perspective and high negotiation skills’.

‘Ateş Turnaoğlu is one of the most experienced and innovative energy & projects lawyers in our market.’
Legal 500 – Turkey 2020

Overview

Ateş mainly concentrates on domestic and cross-border acquisition finance, banking finance and project finance transactions and advises sponsors and banks and financial institutions in connection with development, construction and financing mainly in the infrastructure, transportation, oil and gas, power and renewal energy sectors. He has also been involved in health sector PPP and privatization projects.

Bars and Courts
Istanbul Bar Association
Education
LLB
Koç University, Istanbul
Faculty of Law
Languages
English
German
Turkish
For Turkish law matters, White & Case works with GKC Partners in Istanbul.

Experience

The Sponsors in connection with the financing (including a potential project bond) of the design, construction, operation, maintenance, repair and transfer of the Kınalı-Odayeri and Kurtköy-Akyazı sections (including access roads) of the Northern Marmara Motorway Project in Turkey, including both commercial facilities (Bank of China, Finansbank, Garanti, Halk Bank, ICBC, Is Bank, Vakifbank, Ziraat Bank) and Islamic facilities (Albaraka Türk and Kuveyt Türk).

Ic Içtaş and China Merchants Group as sponsors in connection with the refinancing of the Third Bosphorus Bridge and the Odayeri – Paşaköy section of the Northern Marmara Motorway Project, where ICBC acted as lender.

Ziraat Bank, Halkbank, Vakıfbank, Denizbank, Garanti Bankası and Finansbank, on the €4.5 billion financing of the Istanbul Third Airport Project, sponsored by the consortium in charge of financing, design, construction and operation of the new airport consisting of five Turkish construction companies, namely Cengiz, Mapa, Limak, Kolin and Kalyon, with a total investment amount of more than 10 billion EUR, which is the largest airport financing in the world

Vakıfbank, Halkbank and ICBC Turkey acting as lenders in a syndicated project financing (EUR 215 million plus TL 279.522.000) for the payments to Privatization Administration and working capital needs of three operational hydroelectric power plants (Tolun, Kürtül and Doğankent), where Kolin and Kalyon groups acted as sponsors.

Hanwha Q-Cells Güneş Enerjisi A.Ş. with respect to their both daily and transactional corporate and finance matters, primarily with regards to the sale processes of Hanwha's numerous power subsidiaries holding unlicensed power plants across Turkey.

EBRD and İş Bankası in relation to financing of a portfolio of nine licensed and license-exempt solar photovoltaic power plants of Akfen Yenilenebilir Enerji A.Ş. with a total installed capacity of 85 MW, which are located in Konya, Amasya, Tokat, Van and Malatya provinces in Turkey.

Iş Bankası, Vakıfbank, Yapı Kredi Bankası, Ziraat Bankası, TSKB and Kuveyt Türk in the restructuring of existing financings extended for the construction and acquisition of 9 hydroelectric power projects and 3 wind power projects by Bereket Energy Group and in respect of the deleveraging process of the renewable energy company under the Bereket Energy Group, for the purpose of conducting an IPO.

Ziraat Bankası, DenizBank, Aktifbank and Halkbank in multiple restructurings of football clubs, including Beşiktaş, Galatasaray and Trabzonspor, playing in the Turkish premier league, under an initiative overseen by the Turkish Football Federation and advising on sports legislation, with a particular focus on legislation amendment proposals, which have been actually implemented into the legislation in July 2019.

Akbank, İş Bankası, Yapı Kredi Bankası and 10 other local and foreign commercial lenders in the restructuring of 2.3 billion EUR existing financial debt of Doğuş Holding A.Ş. and its group companies, globally active in the hospitality and food & beverage sectors, and the extension of additional cash and non-cash facilities.

EBRD, IFC and FMO on extending up to US$320 million facilities for Osmangazi Elektrik Dağıtım A.Ş. (OEDAS), the Turkish electricity distribution company responsible for the Osmangazi region, which includes five provinces: Afyonkarahisar, Bilecik, Eskisehir, Kütahya and Uşak.

Vakıfbank in relation to the refinancing of existing indebtedness and the financing of additional capex investments of Tatlıpınar Enerji Üretim A.Ş.

Akbank in the financing of US$145 million loan for the refinancing of existing debts of two renewable energy companies (Bandırma Enerji ve Elektrik Üretim ve Tic. A.Ş. and Yedigöl Hidroelektrik Üretim ve Tic. A.Ş.) operating under the umbrella of Borusan EnBW Energy, a joint venture established by Borusan and EnBW AG, and the acquisition of Yedigöl Hidroelektrik's shares by Bandırma Enerji.

Garanti Bankası, Halk Bankası, Iş Bankası, Türkiye Sınai Kalkınma Bankası, Yapı ve Kredi Bankası and Ziraat Bankası in the financing of the privatisation of Kemerköy and Yeniköy thermal power plants and Kemerköy port facilities, where IC Ictas Enerji Üretim ve Ticaret A.Ş. acted as sponsor.