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Chinese Bank Loan to Fund Huawei Sales to Turkish Network
Published on:
Turkey's Turk Telecom has announced the signing of loans totaling US$600 million with the China Development Bank.
The first loan is for US$200 million and is to be used to finance the purchase of goods and services from Huawei and capital expenditures of the company and its subsidiaries.
In addition, a US$400 million loan agreement was signed with a maturity of 8 years and a grace period of 2 years for the company's long term financing strategy.
The two Chinese loans follow on from an EUR130 million loan agreement with Canada's EDC (Export Development Canada) signed last month for other unspecified capital expenditures.
Tags: [turk telecom] [huawei] [Turkey]
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