Third Airport loan ready for signature

The loan of the Third Airport is ready for signature: The problems in the financing of the third airport project have been overcome. We will continue this week.
In addition to the information we obtained from the bankers, Nihat Özdemir, the chairman of the Limak Group in the consortium, and our editor-in-chief Talat Yeşiloğlu spoke. Nihat Özdemir said that the loan agreement for project financing has reached the stage of signing. Özdemir said, “Loan negotiations are about to end, but we started working without waiting for them. For this project, we bought 300 million Euros of machinery and equipment. Our teams have been working day and night for four months. ”
Özdemir also evaluates banks' equity condition for project finance. Says: “As consortium members, we have no shortage of equity. Our investment in construction machinery is an indicator of this. ” Speaking clearly about the rumors that the share rates among the consortium members may change in the business world, Özdemir said, “We entered this business with five groups of equal shares. There are no changes to our partnership structure. Even if it happens, I object. ” We would like to share with you the information we have received from bankers on Friday. First of all, we have reached the information that 150 million Euros of the machinery and equipment depositors that the group has made for the project are financed by Yapı Kredi Leasing. Again, 50 million Euros was financed by Halk Leasing two weeks ago.
As for the details of the long-term project loan… According to the information we have obtained, public banks will provide around 3 billion Euros. Yapı Kredi and Denizbank will take part in the consortium with 500 million Euros each. While Garanti Bank is participating in the consortium with 300 million Euros, Fînansbank is said to provide credit support with an amount over 300 million Euros. It turns out that in addition to the 3 billion Euro loan support of public banks, 1.6 billion Euro will be provided from private banks. As will be remembered, Hüseyin Aydın, the general manager of Ziraat Bank, who was the consortium leader for the project loan, said in the special statement he made to the Economist the previous week, "For now, there are no foreign banks, but they will provide prefinancing after signing."

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