Vestel Plans Up to $400 Million in Asset Sales as It Pursues Debt Restructuring
6 Articles
6 Articles
Turkey’s Vestel Looks to Revamp Business Amid Bond Restructuring
Turkish electronics and appliance maker Vestel Elektronik expects the pressures that forced it into one of the country’s largest corporate Eurobond restructurings to persist, pushing it to rethink its business.
Vestel Plans Up to $400 Million in Asset Sales as It Pursues Debt Restructuring
Turkish electronics manufacturer Vestel Elektronik is pursuing a comprehensive financial restructuring that includes plans to sell up to $400 million in secured assets, renegotiate bank debt and restructure a $500 million Eurobond maturing in 2029. According to the company’s October 2026 investor presentation reviewed by Patronlar Dünyası, proceeds from the planned asset sales are expected to be used to repay bank debt. The assets to be sold, po…
The company is asking holders of bonds maturing in 2029 to approve a restructuring offer that includes options to either reduce their receivables by 45% or extend the maturity by six years. CEO Gökhan Sığın said in an interview with Bloomberg News...
Vestel will be holding live presentations in English and Turkish for investors today as part of the swap and consent process it has initiated for the restructuring of its $500 million Eurobond debt.
Vestel Elektronik has initiated a swap offer process for the restructuring of its $500 million worth of Eurobonds maturing in 2029.
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