Turkey's Arcelık Secures Try1 Bıllıon Loan
Turkish durable goodshousehold appliances producer Arcelik AS (ARCLK.IS) said Friday it has secured a series of loans totaling 1 billion Turkish lira ($651 million) from five banks.
The loans, with two-yearthree-year maturities, will be used to refinance existing loans maturing 2010.
Arcelik is controlled by Turkish conglomerate Koc Holding (KCHOL.IS).
(SB-SB-ENG)