Turkish telco Turk Telekom has agreed a three-year loan deal, including euro and dollar tranches, worth a total of over US$601m with 13 banks.
The loan is divided into two parts: a €239.4m (US$316m) tranche and a US$285.2m tranche.
Turk Telekom said…
Turkish telco Turk Telekom has agreed a three-year loan deal, including euro and dollar tranches, worth a total of over US$601m with 13 banks.
The loan is divided into two parts: a €239.4m (US$316m) tranche and a US$285.2m tranche.
Turk Telekom said that the euro loan will have an annual interest rate of Euribor + 3%, while interest on the dollar loan will be Libor + 3% per annum.
The mandated lead arrangers, bookrunners and coordinators for the deal are BofA Merrill Lynch, Bank of Tokyo-Mitsubishi UFJ and BNP Paribas.
The loan includes two years of grace period.
Turk Telekom said it had made the agreement to finance its general working capital needs.
