Turkish incumbent TurkCell has signed a loan deal with China Development Bank to finance up to US$250m worth of products and services from Chinese vendor Huawei.
TurkCell said in a statement the loans will be used for capital investments in 2012 and…
Turkish incumbent TurkCell has signed a loan deal with China Development Bank to finance up to US$250m worth of products and services from Chinese vendor Huawei.
TurkCell said in a statement the loans will be used for capital investments in 2012 and 2013.
The financing is composed of two equal-amount loans with maturities of five and seven years and an all-in cost of about libor + 3%.
A TurkCell spokesperson was unable to provide details of the company’s planned investments for the coming year.