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Godiva Owner Agrees Debt Plan for $7 Billion Request

  • Yildiz Holding, Yapi Kredi signed memorandum of understanding
  • Yildiz is seeking to refinance as much as $7 billion
Godiva chocolates sit on display inside a Godiva Boutique

Godiva chocolates sit on display inside a Godiva Boutique

Photographer: JB REED
Updated on

Yildiz Holding AS, the global sweets company owned by Turkey’s richest man, reached an agreement to refinance as much as $7 billion of debt, people with knowledge of the matter said.

Yildiz signed a preliminary accord on Friday with Yapi Kredi, which is representing Yildiz creditors, said four people, who asked not to be identified because the deal hasn’t yet been finalized or made public. An agreement with all of the Yildiz creditor banks could be signed by March 30, one of them said.