Beko Gets U.S.D. 50 Million Syndicated Loan From I.F.C.

ISTANBUL - The International Finance Corporation (IFC), World Bank's branch for development of private sector, lended a 50 million U.S. dollars syndicated loan to Beko Elektronik, a leading durable goods producer in Turkey.
The loan agreement was signed on Monday in Istanbul in a meeting in which IFC Southern Europe and Central Asia Director Khosrow Zamani, Director for Turkey Sujata Lamba, Koc Holding Durable Goods Department Chairman Cengiz Solakoglu, Beko Elektronik A.S. Director General Ali Sumerval and Deputy Director General Mustafa Cekdemir participated.
The loan will be used to finance investments by Beko Elektronik.
Half of the loan has seven-year maturity with a Eurolibor+3.85 percent interest.
The other half of the loan has five-year maturity with a Eurolibor+3.60 percent interest.