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Yildiz Holding, owner of companies including Godiva Chocolates and United Biscuits, requested the largest loan ever from Turkish banks, citing difficulties with an existing finance structure that requires it to make monthly loan repayments that can reach more than $1 billion. In a letter to 10 banks dated Jan. 29, Yildiz asked them to create a consortium, syndication or joint finance group to consolidate their loans to Yildiz. Yildiz and Akbank TAS, Turkey's second-largest private bank, made a deal, according to two people with direct knowledge of the matter, who asked not to be named because the talks are private.The banks are Yapi & Kredi Bankasi AS, Akbank, TC Ziraat Bankasi AS, Turkiye Halk Bankasi AS, Turkiye Garanti Bankasi AS, Turkiye Is Bankasi AS, Turkiye Vakiflar Bankasi TAO, HSBC Bank AS, Denizbank AS and QNB Finansbank AS.
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