Loan from Public Banks to 3 Airport

Credit from Public Banks to 3 Airport: The consortium led by Cengiz, who swore the leadership of the consortium, for the 3 airport project of Istanbul, has set a 4 billion-euro loan with a total 16 year-end in the 2.7 year.
It was stated that for the 3rd airport, 7 billion Euros will be given from 4.5 banks, 60 percent (2.7 billion Euros) of the loan will be provided by Ziraat, Halkbank and Vakıfbank, and 40 percent will be provided by Garanti, Yapı Kredi, Denizbank and Finansbank.
Relevant part of the news of Vahap Munyar from Hürriyet:
On the way to Siirt, we asked the Chairman of the Board of Directors of the Limak Group, Nihat Özdemir, for the final status of the 5 airport project in Istanbul, the consortium led by Mehmet Cengiz, with 3 partners:
- The transfer of the land took place as of May 1, 2015. Things will get faster now. Land arrangement works are currently in progress. The number of employees approached 3 thousand. 700 trucks are working on earthmoving. The number of trucks will soon reach 1200.
- What happened to the loan business?
- Solved. We will receive 7 billion Euros credit from 4.5 banks.
- Which banks?
- 60 percent of the loan (2.7 billion Euros) will be provided by Ziraat, Halkbank and Vakıfbank. Garanti, Yapı Kredi, Denizbank and Finansbank will meet 40 percent.
- Isbank not among the creditor banks?
- They wanted to enter, but could not get to the point we expected in the loan cost.
He pointed to the maturity of the loan:
- 4-year principal payment, 16-year maturity will be in total.
- How much equity will you use?
- 5 partners are putting 1.5 billion Euros.
He noted that ground work was very difficult in the field:
- Despite all the difficulties, we will try to reach the 3rd airport to 29 October 2017.



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