Turkey’s Kardemir secures $42 million credit line

On April 26, Turkish integrated long steel producer Kardemir has announced that it has reached an agreement with Turkiye Garanti Bankası A.S., one of the leading Turkish commercial banks, to secure a seven-year credit line worth $42 million. In the first two years, the steelmaker will not make any repayments.
 
The company said that it will use the funds to finance various investments within the scope of its investment program.