Monday, April 28, 2008

TAV subsidiary secures EUR 393mn loan for airport project.

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TAV subsidiary secures EUR 393mn loan for airport project. Airports development, management and operating company TAV Airports Holding said that its 100% subsidiary TAV Tunisie signed a EUR 392.5mn loan agreement with International Finance Corporation, ABN Amro, Societe Generale, and Standard Bank to finance Enfidha International Airport project in Tunisia . The loan has an interest rate of Euribor+215bps . The loan has a grace period until 2011 and has a maturity of 20 years. TAV Airports started the construction of Enfidha International Airport in July last year. The company will take over the management of Enfidha Airport in the first half of 2009. Enfidha project covers constructions of a new terminal, parking lots, runway and complementary facilities. Enfidha Airport ’s capacity will be increased to an annual 22.5mn passenger throughout its operating period in four phases. TAV Airports operates another airport in Tunisia , namely Monastir Habib Bourguiba International Airport , and the company will run both airports for a period of 40 years.

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TAV subsidiary secures EUR 393mn loan for airport project.

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