Turk Telekom signs acquisition loan

07 Apr 2011

Turkey’s biggest fixed line operator, Turk Telekom, has signed its Eu200m seven year club loan to back its acquisition of Invitel International. BNP Paribas, HSBC, ING, RZB and WestLB made up the club of banks backing the facility, while WestLB co-ordinated the deal.

Turk Telekom signed a share purchase agreement worth Eu221m for the 100% buy-out of Invitel in May last year. The borrower approached banks for the loan last autumn. The signing was delayed over difficulties reaching agreement on the documentation.

Turk Telekom signed its first syndicated loan in December ...

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