€ 392.5 M loan to TAV Airports Holding from International Banks
TAV Airports Holding signed a loan agreement with IFC and creditor banks, ABN Amro Bank N.V, Societe Generale and Standard Bank under the IFC umbrella for the financing of the Enfidha-Hammamet International Airport in Tunisia. The agreement covers a project financing loan for € 392.5 Million.
The average cost of the loan secured from the IFC (International Finance Cooperation) and ABN Amro Bank N.V., Societe Generale and Standard Bank, under the IFC umbrella for the financing of the Enfidha-Hammamet International Airport in Tunisia, one of the leading tourism centres in North Africa, is Euribor + 215 base points. The agreement, signed between TAV Airports Holding and the creditor banks in Paris, France, regulates the term of the loan with a grace period until December 31, 2010, as 20 years as the ultimate term, with a 12½ -year average.
M. Sani Şener, CEO of TAV Airports Holding reminded that a € 505 Million loan was secured from a consortium co-chaired by Dexia Credit Local, T. Garanti Bankası A.Ş. and Goldman Sachs International for the refinancing of the Istanbul Ataturk Airport approximately 1½ months ago, and added, “TAV Airports Holding has secured a total of € 897.5 Million for TAV Istanbul and TAV Tunisia companies with the signing of the loan agreement today. The financial fluctuations experienced in the international arena lately moves international investors to be selective. The total amount of the loan agreements we have signed one after another and the identities of our creditors is an outcome of the trust invested in TAV Airports Holding, which has become a global brand in the field of airport management, in the international arena, and recognition and success in the geographical area it is conducting business in.”
Şener also added that TAV Airports Holding, having established its economical balances strong and sustainable, comes out on top before the discriminating international capital, continued, “Our operational and financial success is obvious in the global market. This agreement, containing favorable conditions in terms of amount, terms and cost in the present economical conditions is proof for our success.”
Groundbreaking in Tunisia for Enfidha-Hammamet International Airport, with a two hour flight time to almost all European capitals, was done on July 24th, 2007. The airport, planned to be operated for 40 years along with the Monastir Habib Bourguiba International Airport by TAV Airports Holding is expected to become operational in 2009. Enfidha International Airport shall ultimately reach a capacity to serve 22 million passengers through a four stage program to be carried out throughout the duration of the operation. The facility shall be built on a total of 4300 hectare area, with a 90,000m² terminal building as part of stage one. A new terminal building featuring an outdoor parking facility, runway, apron and taxiways and service buildings shall be built at the Enfidha-Hammamet International Airport, as well.
TAV Airports Holding, an expert in airport financing and operations, is currently operating Istanbul Ataturk Airport, Ankara Esenboğa Airport Domestic and International Terminal, Izmir Adnan Menderes Airport International Terminal in Turkey, Tbilisi and Batumi International Airports in Georgia and Monastir Habib Bourguiba International Airport in Tunisia. TAV Airports Holding is also selected to operate Antalya Gazipaşa Airport and Enfidha-Hammamet International Airport in Tunisia. TAV Airports Holding renders services to an average of 35 million passengers annually at the airports it operates.