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Busier-Than-Heathrow Ambition Spurs Turkey’s Biggest Loan

Banks are buying into Turkey’s ambition to create one of the world’s busiest aviation hubs as they prepare to finance the country’s largest corporate loan.

Five Turkish companies contracted to build Istanbul’s third airport are going to banks for about 4.5 billion euros ($6.1 billion), Denizbank AS Chief Executive Officer Hakan Ates said by phone on June 17. That’s 28 percent larger than the next-biggest loan by a Turkish company, taken out by Ojer Telekomunikasyon AS in 2013, and compares with $750 million borrowed last year by Dubai Duty Free to extend Dubai International Airport, according to data compiled by Bloomberg.