Turk Telekom has secured a US$100m three-year loan, carrying an annual interest rate of 2.55% over Libor, with Bank of Tokyo Mitsubishi.
Proceeds will be used for general corporate purposes, a spokesperson for the Turkish incumbent said.
Turk Telekom…
Turk Telekom has secured a US$100m three-year loan, carrying an annual interest rate of 2.55% over Libor, with Bank of Tokyo Mitsubishi.
Proceeds will be used for general corporate purposes, a spokesperson for the Turkish incumbent said.
Turk Telekom has been fairly active in debt markets recently. Earlier this month, it won regulatory approval to move ahead with a bond issue worth up to US$1bn. In 2013, it secured loans worth more than US$1.2bn combined.
Turk Telekom reported revenues for 2013 of TL13.2bn (US$5.9bn), up 3.8% year-on-year. EBITDA stood at TL5bn (US$2.3bn), down 2.2% on the 2012 result. The company’s net debt was at TL8.3bn (US$3.7bn).
