Ojer Telekom’s second lien deal blows out

Despite a mid-deal reverse flex on the margin from 560bp to 535bp, Turkish telecoms company Ojer Telekom’s $1.35bn second lien five year loan has been twice oversubscribed, according to a banker close to the deal.

  • 16 Mar 2011

The financing is split between a $1bn term loan and a $350m revolving credit facility.

Akbank, Citi, Deutsche, Garanti Bankasi and RBS are leading it. The loan will be used to pay a shareholder dividend.

The chunky margin enticed six other banks to participate in the transaction which will ...

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