Debt shifts to holdco in Yildiz restructuring

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Debt shifts to holdco in Yildiz restructuring

Turkey PA 230 x150
A balloon with a Turkish flag is seen at Anitkabir, the Mausoleum of modern Turkey's founder and first president Mustafa Kemal Ataturk, as Turkish citizens celebrate the 94th anniversary of the Republic Day in Ankara, Turkey on October 29, 2017. (Photo by Altan Gocher/NurPhoto/Sipa USA) | NurPhoto/SIPA USA/PA Images

Details have emerged on the jumbo loan restructuring process for Turkey’s Yildiz Holding, with a spate of the company’s subsidiaries refinancing debt totalling $535.7m with the holdco’s creditors, while simultaneously shifting liabilities upwards in the capital structure.

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