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400 MILLION TLREF INDEXED LOAN FROM GARANTİ BBVA TO ENERJİSA

Garanti BBVA provided TL 400 million financing loan to Enerjisa Enerji, the leading player in the electricity distribution and sales industry operating under the partnership of Sabancı Holding and E.ON, within the scope of financing infrastructure and network investments.
The loan, which has a one-year grace period and has a total term of 5 years, is one of the first large-scale loans provided with its structure indexed to Turkish Lira Reference Interest (TLREF) in the market.

EDİN: AN IMPORTANT DEVELOPMENT FOR TRANSPARENCY AND RELIABILITY OF LOCAL FINANCIAL MARKETS

Garanti BBVA Corporate and Investment Banking Executive Vice President Ebru Dildar Edin said, "We anticipate that the usage of TLREF-indexed loans will become widespread. This mechanism provides an important opportunity for the development of the long-term TL credit market. One of the new options we offer is TLREF-indexed loans, especially while providing long-term financing needs of our customers in TL with the same currency (TL). We believe that the establishment of this mechanism, which provides advantages for both the financing party and the party having access to the financing, is an important development towards the transparency and reliability of the local financial markets. As Garanti BBVA, we will continue to support the expansion of this product, in other words, the development of the TLREF indexed loan market. ”

MOSER: WE ARE GLAD TO PIONEER THE PROMOTION OF TLREF MECHANISM

Enerjisa Energy CFO Michael Moser said in his statement on the topic, "With this loan, we have fulfilled the financing of the network and technology investments we will make in 2020. We think that the fact that the loan is both TLREF indexed and long-term prevents potential currency risks and is also very valuable in terms of financial sustainability. As Enerjisa Energy, we are also glad to pioneer the promotion of this mechanism. I am convinced the agreement will be beneficial for all of our stakeholders."
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