TAV Concludes Financing For EUR 250m Long Term Loan

TAV Concludes Financing For EUR 250m Long Term Loan

 

On November 30, 2012, TAV EGE Terminal Yapım ve İşletme AŞ (TAV EGE) , a special purpose company owned by TAV Airports, signed loan documents with a group of banks, securing EUR 250m long term project finance facilities for the purpose of building a brand new domestic terminal in Izmir’s Adnan Menderes Airport.

This transaction constitutes a landmark in terms of size, importance and sophistication in the region. The Project is designed to complement the concession of TAV, which already has the right to operate the International Terminal until 2015. TAV Ege will take-over the rights of International Terminal on 2015 and together with Domestic Terminal, will operate the overall terminal facilities of Adnan Menderes Airport until 2032.

European Bank for Reconstruction and Development (EBRD) arranged EUR 70m from the Bank’s own A-loan account, Unicredit and Siemens Bank participated into EBRD’s B-loan with EUR 40m and EUR 35m stakes respectively. Additionally, DenizBank contributed with EUR 65m and Black Sea Trade and Development Bank (BSTDB) with EUR 40m. Financing package comprises of two maturity groups with 15 years and 16 years respectively.

TAV Airports Holding President & CEO M. Sani Sener stated, "As TAV Airports, we are proud to witness the support coming from such esteemed group of financial institutions. Especially the interest shown by foreign lenders in covering 75% of the funding package, is remarkable. As an illustration, EBRD is executing their first Turkish airport financing deal. Maturities provided in the deal are above 15 years which is rarely seen in Turkish debt market. Once again, we are glad to prove the financial institutions’ continuing trust in TAV, Turkish transport sector and the economy. Our goal to pioneer the aviation sector prevails.”

DenizBank CEO Mr. Hakan Ateş stated: “it is a source of pride for us to be the only Turkish Bank contributing to the financing of the new domestic terminal to be constructed in Izmir Adnan Menderes Airport. We believe that the investment to which we participate with a financing contribution of EUR 65 million will provide significant benefit for the tourism of the region and the country. DenizBank will be both the domestic and the international account bank of the said financing transaction in scope of the signed protocol and all cash flow of the project will go through DenizBank A.Ş. and DenizBank AG accounts. Besides, we will open a special branch for Izmir Adnan Menderes Airport and provide all banking services for airport passengers and personnel and assist them in foreign exchange buy/sell transactions. Our Bank which has significant experience in project finance will continue to contribute to these types of projects that add value to our country. I hope that the agreement will be beneficial for all parties and our country.”

Having submitted the best offer at the tender called by DHMI on November 17th, 2011, TAV affiliated company TAV Ege won the operation rights of the domestic terminal until 2032 at a price of 610 million Euros + VAT. Following the takeover of the operation by TAV Airports, the domestic flights were moved to the existing international terminal as of the beginning of the New Year to accommodate the work to be carried out. According to data issued by DHMI, Izmir Adnan Menderes Airport provided service to 9,295,290 passengers last year for an increase of 11 per cent. There are currently direct flights to 119 destinations, including domestic and international flights, in 35 countries from Izmir Adnan Menderes Airport. Adnan Menderes is the sole airport serving Izmir, the third largest city in Turkey after Istanbul and Ankara, and the third largest commercial center in the country. It has a significant industrial base and is responsible for almost 10% of Turkey’s total industrial production. Adnan Menderes Airport is a solid asset that has displayed strong growth over the last decade.
Main features of the terminal:

  • 74 check-in counters
  • 37 elevators
  • 30 escalators and 666 meters of travelators
  • 5,000 bag per hour capacity
  • A total of 291,267 square meter construction area

Deal Info Card:
Signing Date:                                                November 30, 2012
Location:                                                      Izmir, Republic of Turkey
Concession type:                                          21 year concession under a Lease structure
Grantor:                                                       DHMI (State Airports Authority)
Sponsor:                                                      TAV Airports,
Debt Facility:                                                EUR 250.000.000 long term project finance loan
Arrangers:                                                    EBRD, DenizBank, Unicredit, BSTDB, Siemens Bank
Bank Roles:                                                 Unicredit (Coordinating and Structuring Bank)
EBRD (Environmental Bank), DenizBank(Account Bank)
Sponsor’s Legal Adviser:                             Clifford Chance, Sibel Ertekin Law Office
Lenders’ Legal Adviser:                               Latham & Watkins, Fidan & Fidan Law Office
Lenders’ Technical Adviser:                         Mott MacDonald UK

 

Frequently Asked Questions

General Flight Informations

Purchasing, canceling, or changing flight tickets are managed directly by the airline. Since each airline has its own rules, fees, and support channels (like websites, apps, or call centers), we recommend reaching out to them directly.
Operational processes such as departure, arrival, delays, cancellations, check-in, and boarding are under the control and responsibility of the airline companies and the ground handling agents that serve them. Therefore, for accurate and detailed information regarding such matters, we recommend contacting the relevant airline and ground handling service provider directly.
For domestic flights, it is recommended to arrive at the airport at least 2 hours before your scheduled departure time. For international flights, you should arrive at least 3 hours in advance. You can complete your check-in at the airport by visiting the check-in counters of your airline. Make sure to have your ticket, a valid ID (such as a national ID card, passport, or driver’s license), and any baggage you may need to check in. If you have already checked in online, you only need to go to the baggage drop-off counter.
To travel abroad with your pet, you must comply with both international regulations and the transportation policies of the airline. Since each airline and country may have different rules regarding pet transportation and entry requirements, it is essential to contact your airline in advance to ensure a smooth travel process.

Baggage Services

Your free baggage allowance may vary depending on whether your flight is domestic or international, your ticket class, and the policies of your airline. Therefore, for accurate information, you should contact the airline from which you purchased your ticket directly.
Processes such as baggage collection, transfer, transportation, and delivery are under the responsibility of the airline you are flying with and the ground handling company serving that airline. Therefore, in case of any issues such as lost, damaged, or undelivered baggage, you must contact the relevant airline or ground handling company before leaving the airport to ensure the matter is properly investigated.

Security Procedures

During security screening Items like phones, belts, and coats must be placed in the X-ray machine. Laptops and electronic devices should be removed from their bags and screened separately. Sharp or flammable items are not allowed in cabin baggage and must be checked in. Follow the instructions of security staff and join the queue on time. Children are also subject to security screening, and their belongings will be scanned through the X-ray machine. For detailed information, please visit our website.
Liquids in hand luggage must be in containers of no more than 100 ml each. Be placed in a transparent, resealable plastic bag. The total volume of the bag must not exceed 1 liter, and each passenger may carry only one bag. Medications, baby food, and special dietary liquids may be exempt but must be declared at the security checkpoint. Liquids with an alcohol content over 70%, such as certain colognes or disinfectants, are strictly prohibited in both cabin and checked baggage under all circumstances.
Items such as sharp objects, weapons (including replicas), flammable or explosive materials, and toxic chemicals are not allowed in hand baggage. Liquids in hand luggage must be in containers of up to 100 ml, placed in a 1-liter transparent bag. For the full list and details, please visit the DHMİ Passenger Information page.
Yes, at the International Departures and Arrivals levels, passengers who declare themselves as disabled or individuals with special needs are offered Fast Track service together with one companion, without the need to present any documents.
No.
Free water dispensers are available for passengers at both the Domestic and International Terminals of Adnan Menderes Airport. For location details, please visit this page.
According to national and international aviation security regulations, medications and baby food required during travel may be carried in hand luggage. However, the following conditions must be met for these items to pass through security screening: Accepted Items: Medications: Must be listed on a prescription that includes the passenger’s name, or accompanied by a doctor’s report/medical certificate stating that the passenger needs to use the medication. Medications must be in their original packaging. Baby food: May be carried only in quantities needed for the duration of the journey, and only if the baby is also traveling on the flight. At the Security Checkpoint: - Security officers may ask you to present documentation proving the exceptional need. - If deemed necessary, they may also request that you taste the medication or baby food.
According to national and international aviation security regulations, liquid and paste-like items purchased from Duty Free stores or on board the aircraft are permitted through security checkpoints under the following conditions: - Items must be placed in a sealed, tamper-evident bag (STEB) provided by the store or airline. - The purchase receipt must be clearly visible inside the sealed bag. - The bag must remain unopened and undamaged until arrival at the final destination. These items are generally accepted on both direct and connecting flights. However: - If the passenger exits the secure area or transfers through another airport, the items may be subject to additional screening. - If the bag is opened or appears tampered with, the items may be confiscated at subsequent security checkpoints.

Customs Procedures

For detailed information on the exemption limits for personal belongings brought into Türkiye by passengers, please visit this page .
For detailed information about the cash limit you can carry when traveling abroad, please visit this page .

Parking and Transportation

Yes, our parking areas offer a subscription system. For detailed information and current pricing, please visit our parking page. Please note that reservations are not available for our parking areas. Service is provided on a first-come, first-served basis.
Yes. Vehicles carrying a disabled person are exempt from parking fees for up to 15 days per entry. The vehicle must have the disabled person inside — having “Disabled Vehicle” written on the registration is not enough. For more information, please visit our parking page.
You can reach our airport by HAVAŞ shuttle services, municipal buses, İZBAN train, private car, or taxi. For more information, please visit our transportation page.

Passenger Services

Wheelchair service is provided by airlines and ground handling companies. To benefit from this service, it is recommended that you contact your airline prior to your flight. Wheelchair assistance is available in both domestic and international terminals.
For detailed information and reservations regarding lounge access, fast track, and TAV Passport services, you can call 0(850) 222 2575 or contact us via email at customersuccess@tav.aero.
Connect to the TAV-FREE-WIFI network. On the page that opens, enter your country code and mobile phone number. Enter the verification code sent via SMS to complete the connection. Passengers without roaming access can obtain a password using their ID card at the kiosk devices located in the terminals.
For details about the food & beverage places operating at Adnan Menderes Airport, please visit our website:
For details about the stores operating at Adnan Menderes Airport please visit our website.

Job and Internship Applications

For job/internship applications and information about application process, you can contact our Human Resources Department via email at hr.izmir@tav.aero.
Passport and Visa Procedures
Regarding passport and visa procedures for arriving, departing, transit, or transfer passengers, we recommend contacting the Passport Police using the contact details provided below. You may also reach out to your airline for additional information related to your travel documents. Passport Police Contact Information: +90 232 455 00 00 Extensions: 1624, 4944, 4963, 1912, 1913

Transit Passengers

Transit/transfer passengers may benefit from other services available within the terminal depending on their flight schedule. For detailed information about transit/transfer procedures, please click here.

Lost Items in the Terminal

For lost or forgotten items within the terminal or parking areas, you can contact the TAV Lost & Found Office between 08:00 and 20:00 on weekdays and weekends. Phone: +90 232 455 00 00 / Extension: 4690 Email: kayip.esya@tav.aero For items lost during the flight, please contact your airline or the ground handling company that provides services on their behalf.
Lost passports or ID cards found within the terminal or parking areas are handed over to the Airport Police Department. Therefore, you will need to contact the Airport Police directly for assistance. Phone: +90 232 455 00 00 Extensions: 1608, 1499
Items registered at the TAV Lost & Found Office are kept for a period of one year

Accommodation

TAV Airport Hotel is located inside Adnan Menderes Airport. For detailed information and reservations, please click here.
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