Koç and Turk Telekom sign off 2009 in style

Two of Turkey’s biggest corporate borrowers signed syndicated loans at the end of last month, both benefitting from ample liquidity among local banks. Koç Holding obtained a $425m facility on December 23 and Turk Telekom completed a $600m deal a day later.

  • 08 Jan 2010

Turkey’s financial institutions have long been regular issuers of syndicated loans. But the success of Koç and Turk Telekom’s deals underlines a trend of increasing activity from corporate borrowers.

Turk Telekom’s deal, its first non-export credit agency backed syndicated facility, was particularly impressive, closing about four times oversubscribed. Despite ...

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