Active Mixed AidData Chinese Aid

China Development Bank provides $400 million buyer's credit loan to Türk Telekom for long-term financing purposes (Linked to Record ID#41608)

$400M USD

Funder	China Development Bank (CDB)
Recipient Organization	Türk Telekom
Country	Turkey
Start Date	Dec 26, 2012
End Date	Apr 21, 2028
Duration	5,595 days
Number of Grantees	1
Roles	Recipient
Data Source	AidData Chinese Aid
Grant ID	`41609`

Grant Description

China Development Bank provides $400 million buyer's credit loan to Türk Telekom for long-term financing purposes On December 26, 2012, China Development Bank (CDB) and Türk Telekomünikasyon A.Ş. (“Türk Telekom”) — a private telecommunications company — signed two loan agreements.

The first loan (captured via Record ID#41608) had a face value of $200 million, a maturity of 8-years, a grace period of 30 months, and an interest rate of LIBOR (0.687% calculated as average 6-month LIBOR for 2012) + 285 basis points.

The proceeds from this loan were to be used by the borrower to facilitate its acquisition of products and services from Huawei Technologies.

📋 Loan / Grant Terms

💰 Loan Amountloan (as captured in this project) had a face value of $400 million

The proceeds from this loan were to be used by the borrower to address its long-terms financing needs.

📋 Staff Comments

Türk Telekom was a state-owned enterprise until it was privatized in 2005. In November 2005, 55% of Türk Telekom was sold to Oger Telecom's Joint Venture Group.
For loan and debt rescheduling records with variable interest rates, AidData calculates the all-in interest rate at T0 based on the reference rate (such as LIBOR or EURIBOR) on the loan start date, plus any known margin. Please see the methodology for additional details.

📚 Sources & References

Turk Telekom gets loans from EDC
China Development Bank
Turkey : EDC
CHINA DEVELOPMENT BANK provide loan to TURK TELEKOM
China Development Bank to Fund Turk Telekom
Turk Telekom signs $600 mln loan deals with China Development Bank
Turk Telekom signs USD600m loan with CDB, agrees additional terms with EDC Loan applications and disbursements are still being received and processed as the projects continue to evolve. Ongoing monitoring and evaluation are in place to ensure project continuity.