Unexpected Decision from Ziraat Bankasi

According to the “SPK applicants for borrowing by issuing capital market instruments” list published in Bulletin Board issued by Capital Markets Board, Ziraat Bankasi (Agricultural Bank) applied to SPK for foreign debt raising permit for 4 billion dollars.

 

Debt Raising in Dollars

 

Ziraat Bankasi is the largest state bank in Turkey. The bank was established to provide low interest loans for agricultural workers and farmers. From the day established Ziraat Bankasi has been known as one of the most reliable banks in Turkey. With the foreign debt raising application, the financial statement of the bank has been started questioning.

 

In Bulletin Board, only Ziraat Bankasi used debt raising instrument in US dollars for 4 billion. Other 7 firms listed as raising debt in Turkish Lira since otherwise was not stated. The other companies applied to Capital Markets Board for debt raising are; Deniz Factoring (Deniz Faktoring), IC İçtaş Energy Investment Holding (IC İçtaş Enerji Yatırım Holdingi), KT Sukuk Asset Leasing (KT Sukuk Varlık Kiralama), İş Investment Securities (Is Yatırım Menkul Değerler), Turknet Communication Services (Turknet İletişim Hizmetleri) and Şeker Factoring (Şeker Factoring).

 

Debt Raising Amount

 

The debt raising amount of the firms applied to SPK is differs between 95 million to 2.5 billion Turkish Lira. The amounts of the firms applied for are declared in Bulletin Board. According to the Board, Deniz Factoring applied for 154 million Lira, IC İçtaş Energy Investment Holding 300 million Lira, KT Sukuk Asset Leasing 150 million Lira, İş Investment Securities 2.5 billion Lira, Turknet Communication Services 100 million Lira and Şeker Factoring 95 million Lira.

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    fatma Written by:

    Fatma Şahin fatmasahin@istanbulinvestments.com

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