BSTDB Contributes EUR 40 Million to Financing the New Domestic Terminal of Izmir Airport (Türkiye)

Press Release | 30-Nov-2012

The Black Sea Trade and Development Bank (BSTDB), a mandated lead arranger, will provide EUR 40 million loan to finance the construction of the new domestic terminal of Izmir Airport. The BSTDB loan, signed on November 30, is part of a EUR 250 million long-term debt facility put together by BSTDB, the European Bank for Reconstruction and Development (EBRD), and commercial banks - Unicredit, Siemens Bank and Denizbank. The terminal will be built by TAV Ege (Türkiye), which won the lease to operate the entire airport until 2032.

Izmir is the third largest city in Türkiye and a dynamic tourist and business destination with a population of 3.3 million. The new Izmir airport terminal will facilitate growing traffic, both domestic and international. It will be the most energy efficient airport in Türkiye benefitting from a modern environmental management system.

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TAV Airports, the owner of the special-purpose company TAV Ege, is one of the world’s largest airport concession companies with operations at  twelve airports in six countries. The company, together with its subsidiaries, provided services to approximately 451 thousand flights and 53 million passengers in 2011.

The Black Sea Trade and Development Bank (BSTDB) is an international financial institution established by Albania, Armenia, Azerbaijan, Bulgaria, Georgia, Greece, Moldova, Romania, Russia, Türkiye, and Ukraine. The BSTDB headquarters are in Thessaloniki, Greece. BSTDB supports economic development and regional cooperation by providing loans, credit lines, equity and guarantees for projects and trade financing in the public and private sectors in its member countries. The authorized capital of the Bank is SDR 3 billion (appx. EUR 3.3 billion). BSTDB is rated long-term A by Standard and Poor’s and A3 by Moody’s.