11 May 2018 - News & Announcements / About Yıldız Holding Syndication Loan

On 12 April 2018, Yıldız Holding and some of its group companies, including our Company, entered into a syndicated loan agreement ("Syndicated Loan Agreement") with some of Yıldız Holding and group companies’ lenders. The syndication loan process has been signed as of the date of our announcement. Gözde Girişim's total cash loan under this scope is USD 76 million and non-cash loans are not available.

There was no increase in the debt burden of Gözde Girişim due to the syndication loan; only existing bank loans were issued to Yıldız Holding. At the same time, our Company has been a guarantor to Yıldız Holding as of the date of loan utilization, limited to the total amount of cash credit risk that exists to the banks with respect to our Company itself. Pledges have been established on the shares of our subsidiaries. According to the Syndication Agreement, these companies will pay their debts to Yıldız Holding in 8 years. Yıldız Holding will pay all outstanding debts to Creditors under the terms of the Syndication Loan Agreement in the capacity of "Borrower".

The guarantee obligations will be finalized as a result of making the guarantor payments during the Syndication Loan Agreement and there is no restriction or commitment that could affect our Company's operations negatively.

https://www.kap.org.tr/tr/Bildirim/683285