Turkey’s Sahenk Signs $1.1 Billion Debt Rejig for Galataport
This article is for subscribers only.
Turkish tycoon Ferit Sahenk’s Dogus Group has signed a deal with creditors to restructure over €1.02 billion ($1.1 billion) in debt tied to its flagship Istanbul cruise port and shopping center project.
The deal is signed for debt provided to Galataport Istanbul Liman Isletmeciligi & Yatirimlari AS and real estate firm Dogus Galataport Gayrimenkul Yatirimlari ve Ticaret AS, banks said in separate exchange filings on Tuesday.