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Vestel Elektronik’s Dollar Bond Drops amid Debt Restructuring Plan
February 26, 2026
Turkey’s Vestel Elektronik is in talks with banks regarding a debt restructuring plan. The electronics manufacturer is working on a $500mn debt restructuring after having reported consecutive quarterly losses over the past two years. While details regarding the restructuring were not revealed, sources noted that talks were at an advanced stage. Amid high leverage and borrowing costs, Vestel entered into negotiations with lenders to replace its short-term lira-denominated loans with longer-term hard-currency debt in October 2025. Last year, Zorlu Holding, Vestel’s parent company, announced asset sales and job cuts amid cost concerns and pressures to reduce its $4.9bn debt burden.
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