Türk Telekom inks deal with China’s bank

ANKARA

Türk Telekom has signed a $200 million loan deal with the China Development Bank, the company announced late on April 3.

In a statement to the Public Disclosure Platform (KAP), Türk Telekom said it had signed two loan agreements with the China Development Bank Corporation in order to finance purchases from Chinese vendors.

The company stated that the loan had a maturity of nine years and a two-year grace period, with an interest rate at LIBOR plus 2.85 per annum. Türk Telekom was privatized in 2005, after which it publicly offered 15 percent of its shares on Borsa Istanbul in 2008.

As of June 30, 2014, the Türk Telekom Group companies have 13.4 million fixed line subscribers, 7.4 million broadband (wholesale) subscribers, and 16.2 million mobile subscribers, according to its website.