Banks 3. wins the tender for the İçtaş-Astaldi Group

Banks that did not lend money to electricity distribution tenders went after the İçtaş-Astaldi Group, which won the 3rd Bridge tender. 5 different finance consortiums have already knocked on the door of İçtaş-Astaldi.
The banks that did not give credit to the companies that won the electricity distribution tenders opened the bag for the 3rd Bridge. İçtaş-Astaldi Group, which won the 3rd bridge tender, received an offer from domestic and foreign banks to extend loans. The partnership is considering the offers. Loan negotiations continue for the İçtaş-Astaldi Partnership, which will build the bridge over the Bosphorus. The groups formed a working unit for this. The teams, on the other hand, investigated loan opportunities from Turkey and abroad. In this process, the interest of the banks in the financing of the 3rd bridge surprised everyone, and it was learned that there were proposals for financing, especially from abroad.
Authorities noted that banks want to finance the bridge construction due to the high cash flow. It was stated that the banks wanted to keep all the revenues obtained from the bridge within their structures with this method. It was noted that İçtaş-Astaldi Group met with approximately five different bank consortiums for the bridge. In addition, it was learned that Vakıfbank, one of the local banks, with the capital of the Gulf, is also active for the loan. Vakıfbank General Manager Süleyman Kalkan listed the 3rd bridge among the projects the bank wanted to take part in last week. Banks stay away from energy The banks, which look favorably on the financing of the construction of the 3rd bridge, stay away from the distribution privatizations that the Privatization Administration put up for sale the previous day. The first distribution auctions held last year had to be canceled due to the banks not giving loans. With the resumption of the Privatization Administration for distribution tenders, eyes turned to banks again. A senior public bank manager, who informed STAR on the matter, said that under these conditions, nobody wants to deposit large amounts of money to energy distribution companies.
On the other hand, the Privatization Administration had planned to keep the bid bonds high in order to ensure that real buyers entered the distribution auctions and to prevent the firms from giving up. Within this framework, guarantees of up to $ 100 million were expected to be required. However, small increases were made in the amount of collateral. Accordingly, the collateral amount of Akdeniz Elektrik Dağıtım was increased from 10 million dollars to 15 million dollars, Boğaziçi Elektrik from 20 million dollars to 30 million dollars, and Gediz Elektrik from 15 million dollars to 23 million dollars. The 10rd bridge, for which İçtaş-Astaldi Group won the tender for the shortest construction and operation period with 2 years 20 months and 3 days, will be built between Garipçe and Poyrazköy. İçtaş-Astaldi has 4 more months to find a loan.

Source: Hüseyin Özay- Star

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