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BRIEF-Bimeks restructures 266.2 mln lira debt
May 31, 2017 / 6:28 AM / 4 months ago

BRIEF-Bimeks restructures 266.2 mln lira debt

May 31 (Reuters) - BIMEKS BILGI ISLEM VE DIS TICARET AS:

* SAID ON TUESDAY SIGNED AGREEMENT WITH BANKS AND FINANCIAL INSTITUTIONS TO RESTRUCTURE 266.2 MLN LIRA DEBT WITH 6 YEARS MATURITY AND 1 YEAR GRACE PERIOD IN THE SCOPE OF MOU SIGNED ON JAN. 10

* PRINCIPAL PAYMENTS WILL BE PAID IN INCREASING AMOUNTS FOR 5 YEARS AND WILL NOT EXERT PRESSURE ON THE COMPANY‘S CASH FLOW

* THE INTEREST RATE TO BE APPLIED FOR THE CONTRACT IS DETERMINED AS TRLIBOR + 3 AND THE INTEREST WILL BE APPLIED AS 9% AND 10% PER ANNUM IN 2017 AND 2018, AND THE INTEREST ACCRUALS WILL BE PAID IN THE FOLLOWING YEARS

* WITH THE ENTRY INTO FORCE OF THE CONTRACT, THE COMPANY‘S FINANCIAL LIABILITIES WILL BE SHIFTED FROM SHORT-TERM TO MEDIUM AND LONG-TERM IN THE BALANCE SHEET

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