Incumbent Turk Telekom has agreed a US$150m loan with HSBC, Mizuho and BNP Paribas, and backed by Swedish export credit agency EKN.
Turk Telekom will pay interest at Libor +0.535% and the loan matures in 2025, according to a company statement.
The…
Incumbent Turk Telekom has agreed a US$150m loan with HSBC, Mizuho and BNP Paribas, and backed by Swedish export credit agency EKN.
Turk Telekom will pay interest at Libor +0.535% and the loan matures in 2025, according to a company statement.
The Ankara-based telco said the proceeds will be used to finance capital expenditure. Typically, ECAs back loans to telcos which involve exports to help boost local manufacturing, and EKN has a long history of helping foreign operators fund equipment purchases from the Stockholm-headquartered vendor Ericsson.
Neither Turk Telekom, Ericsson nor EKN would comment on whether this loan would be used to buy Ericsson products.
