Turkish Power Producer Seeks Lower Rates on $3.9 Billion of Debt

A Turkish energy producer and distributor started preliminary talks with lenders to renegotiate interest rates on $3.9 billion of debt to try and benefit from lower borrowing costs, Bloomberg News reported. Bereket Enerji approached nine lenders about adjusting rates on debt that had previously been restructured, people with knowledge of the matter said. Some banks are reluctant to meet the demand, while others are more sympathetic, the people said, asking not to be identified as the deliberations are confidential. Negotiations are continuing, they said. Denizli, Turkey-based Bereket Enerji, owned by businessman Ceyhan Saldanli, declined to comment. Read more