Page 40 - TURKRptDec22

Major debt restructurings by Turkish borrowers
Date
Borrower
Owner
Amount
Maturity
Banks
Nov-22
Tat Gida (TATGD)
Koc Holding (KCHOL)
€5mn
3-year
EBRD
Oct-22
Akcez, Sakarya EDAS
Baskentgaz (BASGZ), Torunlar
MANDATE
MANDATE
Garanti (GARAN), Isbank (ISCTR)
Oct-22
Bak Ambalaj (BAKAB)
Bakioglu Holding
€21mn
4-year
HSBC and unnamed four more
Sep-22
Zorlu Enerji (ZOREN)
Zorlu Holding (Ahmet Nazif Zorlu)
$150mn
2028
Kuwait Investment Authority (KIA)
Jul-22
Polat Enerji
Adnan Polat, Isbank (ISCTR)
$100mn
9-year
EBRD
Jun-22
Istanbul Sabiha Gokcen Airport (ISG)
Malaysia Airsports Holding (Kuala Lumpur/5014)
TALKS
TALKS
Presidency of Defence Industries (SSB)
Apr-22
TAV Izmir
TAV (TAVHL)
€200mn
-
Turkish and foreign
Dec-21
Health Ministry
Government
TRY9bn
overdue
Health Industry Employers' Association
Nov-21
Gaziantep city hospital
Ronesans, Samsung(Seoul/028260), Actus (Global/GLYHO)
€483.5mn
RUMOUR
EBRD, EIB, Korea Eximbank, K-sure
Oct-21
Demiroren Holding
Demiroren family
$2bn
TALKS
Ziraat and unnamed 8-9 private banks
Sep-21
Hotels
Hotel Association of Turkey (TUROB)
CRYING
-
-
Sep-21
Health Ministry
Government
TRY6bn
overdue
medical companies
Sep-21
Torunlar REIT (TRGYO)
Torunlar
TRY750mn
-
Halkbank (HALKB)
Aug-21
Gama Enerji
Gama, Tenega (Malaysia), IFC
$595mn
7,12-year
Is, Yapi Kredi, Garanti, TSKB, Deniz (KPMG)
Aug-21
3rd Bosporus Bridge
Ictas, China Merchants
$1.6bn
FAILING
ICBC, Bank of China, China Merchants Bank
Jun-21
243 companies
October 2019 - June 2021
TRY67bn
-
TBB under restructuring law
May-21
Istanbul Airport
Kalyon, Cengiz, Mapa, Limak
€5.8bn
2033
Ziraat,Halkbank, Garanti, Vakifbank, Deniz
May-21
230 companies
October 2019 - May 2021
TRY56bn
-
TBB under restructuring law
Mar-21
-
Data obtained by TBB from banks
TRY216bn
-
Out restructuring law (not all restructurings)
Mar-21
Dogus REIT (DGGYO)
Dogus Holding
€100mn
2026
Credit Europe (Fiba Holding)
Mar-21
Pamukkale Turizm
-
-
2025
-
Mar-21
Marti (MARTI)
-
$128mn
2030
Denizbank
Mar-21
Global Liman (London/GPH)
Global Yatirim Holding (GLYHO)
$250mn
2024
eurobond due Nov 14, 2021
Mar-21
4 Football clubs
Besiktas, Fener, Galatasaray, Trabzon
-
2030
Ziraat, Halk (HALKB), Deniz, Yapi Kredi (YKBNK)
Mar-21
86% of business owners
rent, utility bills, tax
-
-
-
Feb-21
201 companies
-
TRY35bn
-
TBB under restructuring law
Feb-21
TAV Tunisia
TAV (TAVHL)
€371mn
-
local banks
Feb-21
Istanbul Airport
Kalyon, Cengiz, Mapa, Limak
€1bn
2042
DHMI (Turkish airports authorithy)
Feb-21
Five airports
TAV (TAVHL)
-
2024
DHMI (Turkish airports authorithy)
Feb-21
Airport operators
Kalyon,Cengiz,Mapa,Limak,AeroportsdeParis,M alaysiaAirports
-
2024
Government
Feb-21
5mn university students
-
TRY5.5bn
demand
Government
40 TURKEY Country Report December 2022 www.intellinews.com