Turkcell Signs $250 Million Loan to Fund Huawei Orders
Published on: 27th Dec 2011
Note -- this news article is more than a year old.
By: Ian Mansfield
Turkish mobile network operator Turkcell Group says that it has signed loan agreements with China Development Bank for the potential purchase of Huawei products and services worth up to $250 million.
The loan is for capital investments during 2012 and 2013.
The financing, which is composed of two equal loans with respective tenors of 5 and 7 years, has an all-in cost of approximately libor + 3.00% per annum.