Turk Telekom has signed two loan agreements worth a combined US$200m with China Development Bank to fund purchases from Chinese vendors.
The Turkish incumbent said in a regulatory filing that the loans have a maturity of nine years, including a grace…
Turk Telekom has signed two loan agreements worth a combined US$200m with China Development Bank to fund purchases from Chinese vendors.
The Turkish incumbent said in a regulatory filing that the loans have a maturity of nine years, including a grace period of two years, and an annual interest rate of 2.85% over Libor.
The Istanbul-listed telco last inked a loan with the China Development Bank in October 2013 – a US$300m, nine-year facility with the same annual interest rate.
Turk Telekom reported revenues of TRY13.6bn (US$5.26bn) for 2014, up 3.7% on the previous year’s result. EBITDA was up 1.2% to TRY5.05bn (US$1.95bn.
The company claimed to have 16.3 million mobile subscribers at the end of Q4 2014, 7.6 million broadband subscribers and 13.2 million total access lines (of which 11.4 million are fixed voice lines and 1.8 million naked broadband subscribers).
