Turk Telekom has secured a US$150m, nine-year loan to fund equipment purchases from Stockholm-based Ericsson.
The Turkish incumbent notified the Istanbul Stock Exchange that it has signed the loan agreement with BNP Paribas, ING and JP Morgan. The…
Turk Telekom has secured a US$150m, nine-year loan to fund equipment purchases from Stockholm-based Ericsson.
The Turkish incumbent notified the Istanbul Stock Exchange that it has signed the loan agreement with BNP Paribas, ING and JP Morgan. The annual interest rate is Libor + 0.795%.
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 of TL12.7bn in 2012 and EBITDA of TL5.1bn with a margin of 40%. The company’s net debt at the end of last year stood at US$1.63bn.
