Zorlu charges up new loan

14 Aug 2012

Turkish energy group Zorlu Enerji and its Israeli partner Eldetech have signed a long term loan for around NIS880m ($219m) to finance 80% of two power plant projects in Israel.

The loan has an 18 year tenor with a grace period lasting until the second half of 2014, Zorlu said in a statement to the Istanbul bourse on Wednesday.

Zorlu is paying a margin of 575bp on the facility.

Proceeds will go towards upgrading the Ashod Energy and ...

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