Istanbul to borrow $1.1 B to expand subway network

Dünya Executive - - OVERVIEW -

Istanbul Metropol tan Mun c pal ty plans to borrow 925 m ll on euros ($1.1 b ll on) from several nternat onal banks to f nance s x undergroun­d tra n projects. Execut ves from the c ty’s adm n strat on are n talks w th lenders for a loan w th a matur ty of e ght years, nclud ng a three-year grace per od before payments need to be made, the mun c pal ty sa d n an ema led response to Bloomberg’s quest ons. The deal could be s gned w th n three months, t sa d.

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