TAV Airports Holding signed a 505,000,000 Euro loan agreement for the refinancing of Istanbul Atatürk Airport
TAV Airports Holding signed a project refinancing loan agreement within the scope of the lease agreement for the transfer of the operation rights for Atatürk Airport Domestic and International Terminal Building, Multi-Storey Car Park and the General Aviation Terminal. The contract covers a 505 million Euro project financing loan offered under the co-leadership of Dexia Credit Local, T. Garanti Bankası A.Ş. and Goldman Sachs International.
M. Sani Şener, the Chief Executive Officer of TAV Airports Holding, noted that the international economic developments set the recent agenda and said, “The last economic crises in the United States led to a cash crisis in the finance markets of developed countries. The financial changes in the international area during the recent years resulted in the shrinkage of capital flow for developing countries. Consequently, the international investors are becoming rather selective. The amount of the loan agreement we have signed today, as well as the identities of our co-leaders is a significant proof of the financial and operational strength and the global aspect of TAV Airports Holding” regarding the loan secured under the co-leadership o Dexia Credit Local, T. Garanti Bankası A.Ş. and Goldman Sachs International for the refinancing of Istanbul Atatürk Airport.
M. Sani Şener, the Chief Executive Officer of TAV Airports Holding, added that the selective international capital is faced with TAV Airports Holding, with sound and sustainable economic balances, and said, “We put forth both our operational strength and our financial strength. Given the present economic conditions, this agreement, which involves the amount, the terms, the pricing and improved financial liabilities is of great importance for us, as well as Dexia, Garanti and Goldman Sachs, who have vested confidence in TAV, an already established brand in airport operations“.
Within the scope of the lease agreement signed with the State Airports Authority (DHMI) on June 16, 2005, for the transfer of the operational rights of Istanbul Atatürk Airport Domestic and International Terminal Building, Multi-Storey Car Park and the General Aviation Terminal for a period of 15 years and 6 months, TAV Airports Holding had secured a loan of 589 million Euros through the loan agreement signed on December 2005, for the loan amount it was obliged to pay in 2005. With the 505 million Euro loan agreement signed, TAV refinanced the current financing for a longer period, with better pricing on average, and with improved financial liabilities.
TAV Airports Holding operates the Istanbul Atatürk, Ankara Esenboğa Domestic and International Terminals as well as the Izmir Adnan Menderes Airport International Terminal in Turkey, and the Tbilisi and Batumi International Airports in Georgia, and the Monastir Habib Bourguiba Airport in Tunisia. TAV Airports Holding also has the operation rights for Antalya Gazipaşa Airport and the Enfidha-Hammamet International Airport in Tunisia. The airports operated by TAV Airports Holding serve 35 million passengers per year, on average.
Dexia: The Dexia Group, formed in 1996 through the merger of Credit Communal de Belgique, founded in 1860, and the Credit Local de France, which dates back to 1816, is an international finance group specialised in public financing and retail banking. Dexia with 24,500 employees in 26 countries is focused on public financing, project financing, retail banking and SME banking, through organic growth or mergers/strategic alliances. In terms of public financing, Dexia is the leader with over 40 per cent in France and over 80 per cent in Belgium; and ranks the second in Belgium and the third in Luxembourg in terms of retail banking with the number of customers; and it has extended its services through entire Europe, with partnerships or organic growth. Dexia acquired FSA in 2000, and entered the US market, and has become the market leader in the field of loans for local administrations and the asset based securities.
Garanti: Garanti Bank established in 1946, is a modern Turkish bank, which is client-focused in all activities, which places utmost priority in technology and efficiency… After the merger in 1983 with the Doğuş Group, operating in the fields of finance, industry and service, the growth strategy carried out was very consistent. It is the 2nd biggest private bank in Turkey, with 76.1 billion YTL consolidated assets as of the end of 2007. Garanti serves 7 million corporate, commercial, SME and retail customers with 15,000 employees, with over 600 branches in the country and abroad (Luxembourg, Malta and Northern Cyprus), with over 20,000 ATM’s and with its awarded and successful Internet branch and call centre. Garanti serves in Russia, the Netherlands, Romania, Germany, Switzerland, Ukraine and Kazakhstan through Garanti Bank International and Garanti Bank Moscow; and it is the first Turkish bank to establish a representative office in China. Garanti also has representative offices in London, Moscow and Dusseldorf; and it serves as a financial services group, with participations specialised in various disciplines of the finance industry. Garanti is a leader in Turkey in project financing and acquisition financing; and it has played a role in the financing of several projects from privations to company acquisitions, from infrastructure projects to tourism and transportation industries, from energy to marine industries.
Goldman Sachs: Goldman Sachs is a global investment banking, securities and investment management firm. It provides a wide range of services to a substantial and diversified client base that includes corporations, institutional investors, governments, non-profit organisations and high-net-worth individuals. Its headquarters is in New York and it maintains significant offices in London, Frankfurt, Tokyo, Hong Kong and other financial centres around the world.