May 27, 2012
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Türk Telekom receives 222 mln euro loan from Halkbank
9 March 2010 / TODAY’S ZAMAN, İSTANBUL
Turkey’s telecommunication giant Türk Telekom announced on Monday that it has secured a 222 million euro loan from Halkbank.
In a written statement released through the Public Disclosure Platform (KAP) of the İstanbul Stock Exchange (İMKB), Türk Telekom said it obtained the loan to further improve the company’s debt structure with respect to interest rates and currency. The funds received are to be repaid over the next five years, the statement read. According to the schedule, interest payments will be made biannually while payment on the principal will start one-and-a-half years after the loan is received. Principal payments will also be made biannually, the statement said. The loan will be extended at an interest rate equal to the Euro Interbank Offered Rate (Euribor) plus 2.85 percent, the company stated.
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