Turk Telekom signs loan agreement amounting to $826 million

Turk Telekom has signed a five-year club loan facility agreement with 14 banks amounting to €420 million and $380 million.

The loan facility, which includes a three-year grace period, will go towards refinancing and working capital, according to the operator. 

Bank of America Merrill Lynch served as the coordinator of the deal while the Bank of Tokyo-Mitsubishi, Sumitomo Mitsui Banking, Bank of China, BNP Paribas Fortis, Citibank, HSBC, ING, Intesa Sanpaolo, JPMorgan, Mediobance, Mizuho and Societe Generale acted as lead arrangers. Deutsche Bank served as lender. 

In September 2015, Turkcell raised $500 million and €445 million in loans, and also received a €1.25 billion loan from the China Development Bank.