Beşiktaş acquire $96,4m bank loan

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Updated: July 5, 2017

BJKAS agreed with Denizbank and Ziraat Bank to use $ 96.4m for refinancing of debts. This loan aims solving the maturity problem of current loans with reducing the interest rate by spreading high interest rate loans to  long terms.

Since the exchange rate is in USD, the interest rate is low according to TL but exchange rate is still a big risk and if the USD increases in the future, the debt will rise again and it will affect Beşiktaş.

On the 28th of February the debt was 536m TL which is around 148m USD. If we take this number into consideration, 96m of it has been refinanced with longer and better terms. With lowering the interest and refinancing the huge portion into one single longer payment should be beneficial. How good it will be we must wait and see the numbers as even though the interest rate has dropped, the fact that it is still in foreign currency can cause problems in the long run. On the other hand since other debts will be closed this means that the collaterals used will be free again. What collateral has been given this time, if any, is uncertain. In the long run, this move seems like it will benefit Beşiktaş.

Emre Hasturk
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Emre Hasturk

Author at Beşiktaş International
Özel ve Dış haberlerimizin İngilizce'den Türkçe'ye, Türkçe bölümümüz için çevirileri.
Türkçe Beşiktaş değerlendirmeleri.
Emre Hasturk
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  • Muhammad Karawi

    That’s a biggie!