Deals
Godiva Owner in Talks With Turkish Banks to Reorganize Loans
- Yapi Kredi leading lenders’ negotiations with the sweets maker
- Yildiz Holding seeks extended maturities, 3-year grace period
A worker prepares chocolates inside a Godiva store.
Photographer: Victor J. BlueThis article is for subscribers only.
Yildiz Holding AS, the global sweets company owned by Turkey’s richest man, said it’s in talks with banks to consolidate loans in its home country and to refinance the debt to keep the company’s growth path intact.
Yildiz Holding met with lenders following preliminary 2017 earnings and 2018 projections, it said in an emailed statement after Bloomberg reported it was seeking to restructure debt with 10 banks. The lenders, led by Yapi & Kredi Bankasi AS, a unit of Turkey’s Koc Holding AS and Italy’s UniCredit SpA, offered to consolidate Yildiz’s separate loans and refinance them through a new syndicated loan, the firm said.