4.3 billion euro credit for the third airport

4.3 billion euros for the third airport is being sought: It is not yet clear which banks will be included in the 4,3 billion-euro loan package.

The project is great. In fact, according to some political institutions, the Germans have great jealousy. Works on the construction of the project are ongoing. It was laid by Prime Minister Erdogan. The cost of construction is estimated to be between 8-10 billion euros. It is calculated that the costs of the consortium will decrease slightly due to the fact that the companies that make up the consortium are builders. But again, the costs are high and they need credit.

So who will finance such a big project? We searched for the latest information on the negotiations that the consortium companies provide for financing. Let me list.

First, the amount of funding requested by the consortium members from banks for the construction of the Third Airport is 4,3 billion euros. Credit maturity will be 14 year.
Second, the banks' 4,3 billion-euro financing package, the consortium members in the ratio of 25 percent of equity will put. Therefore, the consortium needs a capital of 1,4 billion euros. According to our information, there will be a change in the share structure of the consortium due to the capital requirement of 1,4 billion euros. It is said that Cengiz İnşaat's share will increase slightly. It is unclear whose share will fall.

Third, it is not yet clear which banks will be included in the 4,3 billion-euro loan package. Negotiations are in progress and will probably become clearer this week. According to the information we have obtained, Ziraat Bank, the consortium leader for the project loan, told the private banks that were invited to take part in the consortium. Bankası As public banks, we will provide support over 3 billion euros. You complete the rest siz conveyed the message.

Fourth, Ziraat Bank came to the forefront with its 1,6 billion-dollar loan package for Cukurova Holding for Turkcell's shares. In Turkey, a company granted the largest loan signing from a single bank appointed the bank's general manager Huseyin Aydin, Banks Association of Turkey (TBB) passed in front of the press as the President of the economy. In response to persistent questions, Aydın did not answer any questions about Ziraat Bank. As the leader of the consortium, the state banks will receive a new credit risk of at least 3 billion euros if the 1 billion euro loan is fulfilled. Thus, a new record will be signed in credit history.

Fifth, which of the private banks are looking at project financing hot? Leadership in project finance in public banks. It is inevitable for large banks with multiple branches to be involved in airport financing, as in every project. We have received information that İşbank, Garanti and Yapı Kredi are involved in the negotiations on credit package. Is there a foreign bank in the list? We reached knowledge of foreigners operating in Turkey was not involved in the work. One possibility is the establishment of the Russian Syberbank Denizbank in Turkey to join the consortium. The consortium will be formed next week, which bank will provide support for how much.

Armin

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