Thursday March 27, 02:59 PM
Dexia, Denizbank arrange 505 mln eur long-term loan for Istanbul airport
BRUSSELS (Thomson Financial) - Belgo-French bancassurer Dexia SA (Brussels: DEXB.BR - news) , its Turkish subsidiary DenizBank AS and
two other banks have arranged refinancing of airport operator TAV Istanbul's existing debt facilities, the company said.
TAV Istanbul, part of TAV Airports, has been operating Istanbul Ataturk Airport since July 2005 under an operational Lease Contract with DHMI, the Turkish airports authority. The Contract expires in January 2021.
TAV Airports is listed on the Istanbul stock exchange.
The financing for the Project comprises two 11-year loan facilities: a 440 mln eur facility to refinance the existing debt, and a 65 mln eur capex facility to fund TAV Istanbul's expansion plans, the company added.
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