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Doğuş Group continues to negotiate with banks for the restructuring of loans, delaying the settlement of maturity of banks in terms of extension of 4-6 years, or about 2 billion euros and subject to Restructuring
Sources indicate that about 10 banks are creditor in the loan to structure
Since the beginning of the year, the TL has depreciated in the order of 20 % Since the beginning of the year, the TL has been forced companies that suffer from cash flow continue to negotiate the debt restructuring with the banks. Stars February after holding the configuration debts still the leading group in Turkey Dogus Group also began talks with banks to set up credit debt.
Doğuş stand ready in the near term to 7.5 billion pounds level by the 2017-end balance sheet. This amount corresponds to 1.7 billion euros according to the official exchange rate of the euro at the end of the year.
A resource close to the subject is finalizing some things but it is argued that the debate will be delayed. "There is a debate about the contradictions."
"The Bank wants to get it as soon as possible"
The same source said that she was working on the fact that banks have between 4 and 6 years and added that "Some banks have 4, some 6, some 4 + 2
A source familiar with the process said that loans to major structuring lenders had up to one year of loans to maturity and said: "In addition to extending the deadline for this, asset sales will also be on the agenda"
Another source close to the subject is "Akbank will receive a credit
Another third source of information on the structure is that the group companies that need the configuration are collecting and structuring their loans under Doğuş Holding and declare that they are working to "structure on them" and "there will be guarantees and commitments related to these loans" [19659003] Doğuş Holding, Akbank and Yapı Kredi did not comment on the question.
Asset sales accelerated
Doğuş Holding lost 2.3 billion pounds in 2017 after losing 2 billion pounds in 2016, while sales of the holding company l & # 39, last year increased by 16% to 20.4 pounds
The Group announced that it would begin negotiations for the sale of D-Auto Switzerland, a subsidiary of Doğuş Otomotiv, a subsidiary of the Group, while that the Group achieves sales for food and beverages, real estate and industry. Metric Capital Partners, a state-owned fund of Singapore, and Metric Capital Partners, a UK-based international equity fund, in the company "D.Air International BV", which also holds brands such as as Nusret and Zuma within the Doğuş group and 102.5 million euros. April is the month in common
Source: Reuters
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