Corrected: BUZZ-Zorlu Enerji drops after seeking to postpone coupon payment

Vestel Elektronik Sanayi ve Ticaret AS

Yesterday 09:00

Corrects last bullet to reflect ownership of subsidiaries
** Shares in Turkey's Zorlu Enerji ZOREN.IS fall 9% to their lowest in more than four years after the power producer said it was asking bondolders to postpone a coupon payment 
** Zorlu is seeking bondholder consent to defer a $60.5 million payment on its eurobonds due on October 23 to April 23, 2027
** Brokerage Gedik Yatirim says the development reinforces concerns over Zorlu's liquidity position
** "The Arrangement may provide the company with additional time, it does not resolve the funding gap," the brokerage says
** The stock is among the worst performers on Istanbul's BIST 100 index .XU100, which is down 1.6%
** Including the session's fall, the stock has dropped by 55% YTD
** Shares in companies owned by Zorlu Enerji's parent, Zorlu Holding, Vestel Elektronik VESTL.IS and Vestel Beyaz Esya VESBE.IS are down 9.2% and 8%, respectively


 (Reporting by Arda Dipova)
 ((arda.dipova@thomsonreuters.com))