Calik of Turkey Repays $200 Million Bonds, Sabah Says
(Corrects to say bonds were repaid not sold.)
Calik Holding AS, a Turkish group with interests in energy and media, repaid $200 million of bonds that came due yesterday, Sabah reported.
Calik may consider another sale of debt at a later date, the Istanbul-based newspaper said citing chief executive Berat Albayrak.
The five-year bonds paid a coupon of 8.5 percent, according to data compiled by Bloomberg. Fitch Ratings Ltd. cut the outlook on Calik’s B- rating to “negative” on Jan. 17 citing concern that it would need to get extra bank lines to meet the repayment.
The company has put Sabah and its television channel ATV up for sale. Albayrak is Prime Minister Recep Tayyip Erdogan’s son- in-law.
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