The agreement between Arkas and 18 banks, led by Yapi ve Kredi Bankasi A.S., for the USD 800M refinancing loan, was signed in the Istanbul event attended by Arkas Holding and Yapi ve Kredi Bankasi A.S. managers.
Operating in many different sectors from ship refuelling to automotive, insurance services to information systems and tourism in addition to its core business activities that cover maritime, port and logistics services through integrated sea, land, railway and air transport, Arkas also continues to make new investments, as well as take financial precautions in line with the economic atmosphere in its attempts to strengthen its assets and equities. The syndication is led and regulated by Yapi ve Kredi Bankasi A.S. and includes HSBC Bank A.S., HSBC PLC., Turkiye Vakiflar Bankasi T.A.S., T.C. Ziraat Bankasi A.S., T. Garanti Bankasi A.S., Sekerbank T.A.S., TSKB A.S., Denizbank A.S., Alternatifbank A.S., Akbank T.A.S., Turkiye Is Bankasi A.S., Burgan Bank A.S., Fibabanka A.S., Turkiye Halk Bankasi A.S., Odea Bank A.S., Pasha Investment Bank A.S. and Aktif Yatirim Bankasi A.S. as participants. Law consultancy for the agreement was provided by White & Case for the banks and by Verdi Law Office for Arkas.
In the signing ceremony for the syndication credit, provided with participation from 18 banks led by Yapi ve Kredi Bankasi A.S., which totals at 800 Million USD and spans a 5-year term after a year of grace period, Arkas Holding Vice Presidents for Financial Affairs, Cenk Sivrioglu and Orhun Alsan expressed that a refinance support of such a large extent from public and private banks is an indicator of the finance market’s confidence in Arkas, and thanked the banks for their cooperation.
Sivrioglu and Alsan went on to say that Arkas would continue to pioneer the maritime and logistics industries and as one of the 25 largest maritime container transporters in the world, and now with an even stronger financial structure, the company will sustain its growth and exponentially contribute to Turkey’s foreign trade. They also reported that large-scale projects such as last year’s “Great Migration” to Istanbul Airport, which was, and still is, the world’s largest airport movement, is among priority targets for Arkas as a way to create added value for Turkey.