Turkcell Signs an MoU with China Development Bank in Relation to Long-term Financing
December 06 2019 - 8:38AM
Business Wire
Turkcell (NYSE:TKC) (BIST:TCELL) is preparing financing for its
strategic focus areas and next-generation technology investments,
following the company’s recent announcement of 3-year targets in
London. Meanwhile, the stabilizing macro-economic environment in
Turkey continues to support Turkcell’s long-term strategy, and
thanks to its prudent financial management the company continues to
attract international investors and financial institutions.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20191206005244/en/
Turkcell has today signed a Memorandum of
Understanding in relation to an 8-year term loan of 500 million
Euros with China Development Bank. (Photo: Business Wire)
The company has today signed a Memorandum of Understanding in
relation to an 8-year term loan of 500 million Euros with China
Development Bank. Supported by growing demand from corporate and
retail customers, the new loan will be used to finance the
procurement of hardware and equipment from Chinese vendors. The
door-to-door tenor of the loan facility will be 8 years, of which
the first 3 years will be an availability (and grace) period. The
parties have already begun work on the structuring and execution of
the loan agreement.
“As we work on strengthening our existing technology and 5G
preparations, we are also planning for financing,” says Osman
Yilmaz, Turkcell’s Executive Vice President for Finance (CFO).
“This long-term and cost-effective loan facility is intended to
support the financing of our next 3-year procurement in step with
our plan. We aim to sign the facility agreement, through which our
ongoing and potential 5G investments will be financed, in the first
quarter of next year. We consider this development to be an
important indication of confidence in both our company and country,
and hope that it will pave the way for similar arrangements in the
future.”
View source
version on businesswire.com: https://www.businesswire.com/news/home/20191206005244/en/
Ali Karakaya Turkcell Corporate Communications Manager
ali.karakaya@turkcell.com.tr
Bugra Kaya Turkcell Corporate Communications Expert
bugra.kaya@turkcell.com.tr
Turkcell lletism Hizmetl... (NYSE:TKC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Turkcell lletism Hizmetl... (NYSE:TKC)
Historical Stock Chart
From Apr 2023 to Apr 2024