According to the Financial Restructuring Agreement signed between our Bank and Çukurova Group companies on December 31, 2002, the total interest due to our Bank on December 31, 2004 was US$ 101,761,556.
On December 31, 2004, two Çukurova Group companies paid US$ 1,374,511 of this amount to our Bank.
Çukurova Holding, in its written statement dated December 31, 2004, has said that the payment of the remaining US$ 100,387,045 is possible within the 60 day period described in the Article V.6 of the Financial Restructuring Agreement and added that they are working on an earlier payment, possibly in January 2005.
Yapı Kredi / 03 Jan 2005