Turkey's OYAK Group announced the signing of a $400 million loan agreement with DenizBank and its shareholder Emirates NBD (ENBD). The loan has a six-year repayment term, including a one-year grace period.
Purpose and use of financing
The loan will be used to finance strategic investments in line with OYAK Group's sustainable growth objectives. Murat Yalcintas, CEO of OYAK, said the financing will be used for investments aimed at improving the group's production efficiency, strengthening its competitive advantages and strengthening its position in international markets.
Corporate and economic significance
The agreement is seen as a reflection of ENBD's confidence in the Turkish economy and also demonstrates OYAK's strong access to international capital markets. Both DenizBank officials and OYAK management emphasized that this financing represents a significant step forward for both the company and Turkey's investment and production potential.
