November 16, 2017 / 10:25 AM / a year ago

Turkey's bank regulator says asked Oger creditors not to classify debt as 'non-performing'

ISTANBUL, Nov 16 (Reuters) - Turkey’s BDDK banking regulator has asked creditors of Oger Telecom to not classify the struggling firm’s debt as “non-performing”, after it missed a third straight repayment, BDDK head Mehmet Ali Akben told Reuters on Thursday.

The request by the BDDK comes after Reuters reported last month that Turkey’s Treasury opted not to grant a request from Oger’s Saudi shareholders to extend a deadline in debt talks.

Oger Telekom owns 55 percent of Turkish fixed-line operator Turk Telekom. Oger took out a $4.75 billion syndicated loan in 2013 as part of a debt refinancing. It has struggled to repay the dollar-denominated debt as a tumbling lira currency has driven up the cost of servicing the loan. (Writing by Ezgi Erkoyun; Editing by David Dolan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below