Herbert Smith Freehills has recently acted as international underwriters' counsel on Pegasus Airlines' US$330 million IPO and Borsa Istanbul listing and on Kazanci Holding's US$225 million offering and sale of shares in Aksa Enerji.

These equity offerings mark the latest in a series of Turkish capital markets transactions on which Herbert Smith Freehills has advised. Since 2011, Herbert Smith Freehills has also acted as international underwriters' counsel on Bizim's US$250 million IPO, Finansbank's US$350 million and US$750 million bond offerings and AKLease's US$250 million bond offering. The firm also acted as international issuer's counsel to Halkbank on two separate US$750 million Eurobond offerings.

The Herbert Smith Freehills team advising Barclays and Is Yatirim on the Pegasus IPO was led by capital markets partners Alex Bafi and Chris Haynes. They were assisted by Carolyn Jew, Murray Gregorson and Caroline Rae. Alex Bafi and partner Charles Howarth led the team advising Bank of America Merrill on the Aksa Enerji block trade. They were assisted by Dinesh Banani and Catherine Martinez.

Alex Bafi commented: "We are pleased to have played our part in securing the successful conclusion to these offerings in what is a strategically important country for our firm."