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General

Turkcell announces interest rate swap transaction for loan from China Development Bank

Monday 3 June 2019 | 11:45 CET | News
Turkcell said it entered into an interest rate swap transaction for the USD 150 million loan from China Development Bank dated 5 March 2018. The loan's annual interest rate was changed to 4.33 percent in USD terms from LIBOR + 2.22 percent and its maturity date remains unchanged at April 2026. The transaction was needed to manage its floating interest rate risk, Turkcell said. The new annual interest rate is applied starting from 10 April – 10 October period and up until maturity. There have been no changes to the repayment terms of the loan, Turkcell said.

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Categories: General
Companies: Turkcell
Countries: Turkey
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