China’s ICBC, Turkey’s Largest Airport In Talks for Refinancing

Airport operator says Chinese, Gulf, European banks interested
Company is seeking to refinance loan as borrowing costs fall

Visitors enter a terminal building during the opening ceremony for the new Istanbul Airport in 2018. — Visitors enter a terminal building during the opening ceremony for the new Istanbul Airport in 2018.
Photographer: Kostas Tsironis/Bloomberg

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By Kerim Karakaya, Ercan Ersoy, and Cagan Koc

February 10, 2020 at 2:57 PM UTC

Updated on

February 11, 2020 at 1:02 PM UTC

This article is for subscribers only.

The operator of Istanbul’s giant new airport is in talks with Chinese banks led by Industrial & Commercial Bank of China Ltd. to refinance 5.7 billion euros ($6.2 billion) of existing loans.

IGA, as the company is known, said it’s seeking to complete a deal in the first half, citing strong interest from China and the Middle East Gulf without naming any institution.