Tukish telecoms incumbent Turk Telekom has secured a E196m club loan to finance its acquisition last year of Hungarian ISP Invitel Holdings’ wholesale business.
The company’s self-arranged facility was signed by ING Bank, Raiffeisen Bank, HSBC, BNP…
Tukish telecoms incumbent Turk Telekom has secured a E196m club loan to finance its acquisition last year of Hungarian ISP Invitel Holdings’ wholesale business.
The company’s self-arranged facility was signed by ING Bank, Raiffeisen Bank, HSBC, BNP Paribas and WestLB, with the latter coordinating.
It holds an interest rate of 2.8% over Euribor and a maturity of seven years, including a grace period of two years.
Turk Telekom completed its E221m deal to acquire the assets in October in 2010, encompassing holding company Invitel International AG and subsidiaries AT-Invitel, Invitel International Hungary and EuroWeb Romania. Following the acquisition, these units were re-banded as Pantel.
Houlihan Lokey advised Turk Telekom, while Invitel was advised by BNP Paribas and Credit Agricole.
Invitel International provides wholesale data and capacity services in Central and South-Eastern Europe, and has a presence in 16 countries.
