Turk Telekom has signed a €300m (US$397.7m) three-and-a-half year loan deal with Emirates NBD Bank.
The Turkish incumbent said in a stock exchange filing that the loan has an annual interest rate of Libor + 2.68%.
In April, the Istanbul-based company…
Turk Telekom has signed a €300m (US$397.7m) three-and-a-half year loan deal with Emirates NBD Bank.
The Turkish incumbent said in a stock exchange filing that the loan has an annual interest rate of Libor + 2.68%.
In April, the Istanbul-based company secured a US$150m nine-year loan with BNP Paribas, ING and JP Morgan to fund equipment purchases from Stockholm-based Ericsson.
Late last year, the telco secured loans totalling more than US$770m with Canadian and Chinese financial institutions to fund capital expenditure and further its long-term financing strategy. Specifically, these were a €130m (US$170.4m) three-year loan agreement with Export Development Canada (EDC) and US$400m eight-year and US$200m eight-year loans with China Development Bank.
Turk Telekom reported revenues for Q1 2013 of TL3.1bn (US$1.6bn), up 6% year-on-year. Group EBITDA stood at TL1.1 (US$583.5m). Net debt for the quarter stood at TL6.52bn (US$3.5bn).
