Turkey's Dogus in talks with banks on debt restructuring

Turkey's Dogus Holding is in talks with banks on debt restructuring, sources familiar with the matter said on Saturday. Dogus' outstanding loans stood at 23.5 billion Turkish lira ($5.81 billion) at the end 2017, up 11 percent from the year before, including loans worth 7.5 billion lira maturing this year.
Loans of around 18.6 billion lira were denominated in euros and dollars with maturities from 2020 to 2030, the company's statements showed, while the rest were denominated in lira or other currencies. One source familiar with the talks told Reuters that most of the company's loans were project finance loans and would not need restructuring. Dogus asked for a maturity extension on less than half of its bank debt, the source said.