Announcement Regarding Signing of a Long-Term Loan Agreement Package with Odeabank A.Ş.-Turkey

12.10.2015 00:00:00

BND Elektrik A.Ş., a member of Işıklar Holding A.Ş. Group of Companies has signed a loan agreement package with Odea Bank A.Ş. for an amount of USD 19,000,000 cash and TL 1,500,000 non-cash facilities with immediate availability. The purpose of the facility is to re-finance existing Project Finance loans with comperatively favourable terms/conditions. The respective secured cash loan facility will have 10 years final maturity with 1-year grace period and will be paid back in installments which will comprise a tailor-made re-payment schedule in line with the company's expected 10-year cash-flow. The non-cash facility on the other hand will be utilized to provide letters of guarantee for relevant State institutions/authorities. This facility constitutes yet another solid proof of BND Elektrik's sound financial standing as well as Turkish Banking Sector's trust and confidence in the company's future.