Turk Telekom gets loan from China Development Bank

Turk Telekom signed on 21 February a loan agreement with China Development Bank (CDB) which includes USD 500 million principal amount with 8 years of maturity, 2.5 years of grace period and semi-annual payment of interest in order to finance Turk Telekom and affiliates' procurements within the context of its investment programme. The interest rate is Libor + 2.85 percent per annum. Payments of interest will be done semi-annually after the utilisation of the loan. Payment of the principal amount will be done in instalments semi-annually after the grace period.