Aug
31
Banks Make Biggest Loan Since Turkish Coup to Back Port Project
BySix Turkish banks lent 1.02 billion euros ($1.14 billion) to a venture run by companies owned by billionaire Ferit Sahenk and businessman Serdar Bilgili for the development of Istanbul’s Galataport, the biggest financing for a project since a failed coup in July.
The joint venture between Sahenk’s Dogus Holding AS and Bilgili’s BLG Gayrimenkul Yatirimlari AS, known as Salipazari Liman Isletmeciligi ve Yatirimlari AS, signed a 14-year facility with the lenders, Dogus Chief Executive Officer Husnu Akhan told reporters on Wednesday. There will be no repayments for the first 3 1/2 years, he said…
Banks Make Biggest Loan Since Turkish Coup to Back Port Project
