Otaş signs new $4.75bn-equivalent loan

27 May 2013

Lenders participating the new loan facilities for Otaş have had their commitments scaled back after the deal was hugely oversubscribed. Otaş is a holding company owned by Dubai’s Oger Telecom and which holds its 55% stake in Türk Telekom.

The loan, comprising facilities of $4.478bn and €211.97m, will refinance and extend the tenor of some of the company’s debt — a $3.6bn portion of a 2007 loan and a $1.35bn deal from 2011 — as well as provide a dividend to shareholders.

The facility is divided into ...

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