Egemenoglu Advises Derindere Turizm Otomotiv on Second Loan Restructuring

Egemenoglu Advises Derindere Turizm Otomotiv on Second Loan Restructuring

Turkey
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Egemenoglu has advised Derindere Turizm Otomotiv on the second round of consolidated and syndicated loan restructuring for its EUR 350 million debt. Cetinkaya Taktak Semiz Baltali Yorukoglu reportedly advised the banking consortium.

According to Egemenoglu, the transaction is "the second phase of the financial restructuring project developed by our restructuring team." The second round involved 29 financial institutions, including Credit Europe Bank and the Islamic Corporation for the Development of the Private Sector.

The Derindere Group specializes in the fleet vehicle leasing industry in Turkey. The company has a portfolio of 5000 corporate customers and an active fleet exceeding 20.750 vehicles.

Egemenoglu previously advised Derindere on the first round of its consolidated and syndicated loan restructuring (as reported by CEE Legal Matters on August 14, 2019).

The Egemenoglu team was led by Managing Partner Yunus Egemenoglu.

Editor's Note: After this article was published, Cetinkaya Taktak Semiz Baltali Yorukoglu confirmed it had advised the lenders’ consortium. The CCAO team included Partners Onur Taktak and Begum Yorukoglu, Associate Onur Gorkem Koksal, and Junior Associates Nilufer Kir and Fatih Ipin.