Bloomberg News

TAV Said to Get 250 Million Euros From UniCredit-led Banks

November 29, 2012

TAV Havalimanlari Holding AS (TAVHL), Turkey’s biggest airport operator part-owned by Aeroports De Paris (ADP), will sign a loan agreement for 250 million euros ($325 million) with a group of lenders coordinated by UniCredit SpA (UCG), two people with knowledge of the deal said.

An agreement for the loan will be signed in London tomorrow and used to finance the airport project in Izmir town, Turkey’s third largest city, said the people who asked not to be identified because the process is confidential.

European Bank for Reconstruction & Development, Siemens Bank GmbH, Black Sea Trade & Development Bank and Denizbank TAS (DENIZ), a Turkish lender owned by OAO Sberbank (SBER) of Russia, also contributed to the loan, the people said. The maturity of the loan, which is non-recourse to the owners, is longer than 12 years, they said.

Silvia Lamberti, a spokeswoman for UniCredit, and a TAV spokeswoman, who asked not to be named, declined to comment.

TAV, in which Aeroports De Paris bought a 38 percent stake this year, won the 610 million-euro government concession contract last year to build and operate the airport until 2032. It will expand the area of the domestic passenger terminal at the airport to 204,500 square meters by 2015 from 28,500 square meters.

TAV shares fell 0.2 percent to 8.78 liras at 3:07 p.m. Istanbul time.

To contact the reporter on this story: Ercan Ersoy in Istanbul at eersoy@bloomberg.net

To contact the editor responsible for this story: Benedikt Kammel at bkammel@bloomberg.net


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