Bloomberg News

Turk Telekom Says Loan Priced at 285 Basis Points Over Libor

February 24, 2012

Feb. 24 (Bloomberg) -- Turk Telekomunikasyon AS, Turkey’s biggest phone company, said a $500 million loan it got from China Development Bank has an annual interest rate of 285 basis points, or 2.85 percentage points, more than the London interbank offered rate, or Libor.

Turk Telekom signed the loan agreement for the eight-year loan, with a 2 1/2-years grace period, on Feb. 21, it said.

--Editor: Selcuk Gokoluk

To contact the reporter on this story: Aydan Eksin in Istanbul at aeksin@bloomberg.net

To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net


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