Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Bloomberg Customers

Dogan Staying Out of Syndicated Loans as Costs Rise, Yoruk Says

Dogan Sirketler Grubu Holding AS, owner of Turkey’s biggest listed media group, is staying out of the market for syndicated loans as costs rise and international banks scale back amid Europe’s debt crisis.

Dogan, which borrowed $160 million through a syndicated loan together with Yazicilar Holding AS in January last year, hasn’t tapped the market this year.

“As compared to the past, underwriting is not possible in syndications” because “banks are not sure if they can distribute it,” Mehmet Yoruk, Dogan’s vice chairman for finance and treasury, said in response to e-mailed questions yesterday. “European banks have their own problems,” and “funding everywhere became expensive,” he said.

The lack of appetite for underwriting is sending Turkish companies in search of alternative financing, including bilateral loans and local bonds, Yoruk said.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.