Yuksel Insaat solicits consents to allow restructuring of 9½% notes

New York, Sept. 17 – Yuksel Insaat AS announced a solicitation of consents for its $200 million of 9½% senior notes due 2015 that is intended to allow a restructuring of the debt.

Yuksel is seeking to change the governing law of the indenture to English law from New York law and to appoint a new principal paying agent, registrar and transfer agent, according to a notice from the company.

The changes are intended to allow the company to restructure the notes under an English scheme of arrangement.

Discussions with an ad hoc committee of noteholders over the terms of a restructuring are continuing, the company said.

The tabulation and information agent is Lucid Issuer Services Ltd. (yuksel@lucid-is.com or +44 20 7704 0880).

Yuksel is a construction company based in Ankara, Turkey.

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