Turkey’s Yildiz Holding and Dogus Holding two giant agency debt interest rate move came configurations.
Answering Reuters’ questions regarding the issue in writing, Yıldız Holding said, “We are talking about the interest rate reduction with the banks and seeing a positive approach from the banks within the scope of the syndication agreement we made with Yapı Kredi leadership in April 2018.
Stating that there is no problem in asset sales in Yıldız Holding’s statement, “We had very successful sales shared with the public. Buyers are interested in new sales and the process is progressing in our negotiations. Foreign capital, ie foreign direct investment (FDI) encourage to come to Turkey “statements took place.
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Answering Reuters’ questions on the issue, Doğuş Group Vice Chairman Hüsnü Akhan said, “We have conveyed our demand to banks, we have discussed verbally, the approach of the banks is very positive, I think we will conclude our negotiations in a very short time.”
Akhan said, “Let’s not call this a restructuring, it is an element within the configuration. “To adapt the interest rates set in the last year’s market conditions to the market conditions and adapt them to today”, he added:
“As Doğuş Group, as of May 31, last year, we are acting in accordance with the schedule we have signed with 12 banks, or in our words, in our refinancing agreement. An interest payment was made for our payments in parallel with the market rates at that time. We are now negotiating with our banks for an interest rate parallel to the current market interest conditions in parallel with the falling interest rate. ”
Stating that the banks’ approaches in this regard are very positive, Akhan said, “We conveyed our request to the banks and talked to them in writing. We expect that we will conclude in a few days. ”
Akhan said, “We have sold around 1.1 billion euros from 2018 until today. I estimate that this year we will catch a momentum parallel to this figure. All of these sales will go to bank debts. We continue sales negotiations, mainly our foreign assets (assets) ”. (Reuters)
