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11-08-20
Turkcell China Development Bank ink 590 Million USD mortgage contract
(MENAFN) On Monday August 10 the cellphone giant stated that a 500 million Euro (590 million USD) long-term mortgage package with the China Development Bank (CDB) will assist Turkish cellphone operator Turkcell take its commerce to the next level.
Turkcell stated that the eight year maturity mortgage can be used in both Euros and China's renminbi (Yuan) terms to finance Turkcell's infrastructure assets in excess of the next three years.
The mortgage, which will assist Turkcell finance the procurement of new tools, will be refunded in the five years subsequent to a three year grace phase.
Turkcell and the bank marked a memorandum of understanding for the mortgage last December.
MENAFN1108202000450000ID1100616595
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