Yildizlar SSS Holding, a Turkish group with interests in energy, ceramics and silver mining, has hired Raiffeisen Bank International AG and UniCredit SpA to borrow 400 million euros ($484 million) to build a coal-fired power plant, a person familiar with the matter said.
The loan will have a maturity of 10 years including a 3-year grace period, said the person, who declined to be identified as the transaction is confidential. The loan will finance a coal-fired plant with a capacity of 400 megawatts in the central Turkish province of Cankiri, where the Istanbul-based company has a coal mining license, the person said.
Sebahattin Yildiz, chairman of Yildizlar, didn’t answer two phone calls to his office seeking comment. Andrea Morawski, a spokesman for UniCredit, and Ingrid Krenn-Ditz, at spokeswoman at Raiffeisen, declined to comment.