MARTI closed the loan installment early

Martı Otelcilik announced today that it has paid the loan installment to be paid in July 2023 under the loan restructuring agreement with Denizbank and Deniz Factoring.

A statement came from the company today regarding debt payments, which is one of the important developments for MARTI stock. In the statement made by Martı Otelcilik to KAP, “With regard to our material disclosure dated 26.03.2021; Our company and our subsidiary Martı Gayrimenkul Yatırım Ortaklığı A.Ş. and Deniz Bank A.Ş. within the scope of the “Restructuring Agreement” dated 23.02.2021 regarding the restructuring of our loans from Deniz Bank and Deniz Faktoring A.Ş., amounting to USD 3,427,367 following the first 2 years grace period, and The first payment installment with a maturity of 03.07.2023 was made on 07.06.2023 (today).

The installment amount in question corresponds to a figure of 79 million TL, according to the calculation made over today’s official rate of the Central Bank.

So how much does Martı’s structured debt to financial institutions amount to?

According to the special case statement dated March 26, 2021, which the company also pointed out in its statement, the restructuring contract was signed on February 23, 2021. In this context, MARTI REIT’s (MRGYO) total of 46 million 739 thousand 271 dollars and its main partner Martı Hotel’s 81 million 66 thousand 87 dollars cash loan load were restructured with a 9-year maturity (without payment in the first 2 years).

This corresponds to a loan repayment of 1 billion 869 million 383 thousand 966 TL for MARTI at the current exchange rate.

For Martı REIT, the figure is around 1 billion 77 million 807 thousand 589 TL.

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