Telecom signs $4.75 billion loan

London - Reuters

Turkish telecom Ojer Telekomunikasyon A.Ş., has signed a $4.75 billion syndicated loan that will refinance and extend the maturity of existing debt and pay a $1.5 billion dividend.

The loan, which was underwritten and arranged by mandated lead arrangers and bookrunners, was heavily oversubscribed and participating banks were scaled back.

A new $1 billion, 7.75-year bullet D tranche was added to replace a proposed $1 billion, two-year bridge loan to take advantage of demand, bankers said.

The loan also includes a $228 million, five-year amortising term loan, a 211.97 billion euro five-year amortising term loan, a $3 billion 7.5-year amortising term loan and a $250 million, 7.5-year revolving credit.