Project ID: 67361

Bank of China provides EUR 200 million loan to Türk Telekom to expand connections with local businesses

Commitment amount

$ 259899128.515553

Adjusted commitment amount

$ 259899128.52

Constant 2021 USD

Summary

Funding agency [Type]

Bank of China (BOC) [State-owned Commercial Bank]

Recipient

Türkiye

Sector

Communications (Code: 220)

Flow type

Loan

Level of public liability

Private debt

Infrastructure

No

Category

Intent

Mixed (The next section lists the possible statuses.)

Commercial

Development

Representational

Mixed

Financial Flow Classification

OOF-like (The next section lists the possible statuses.)

Official Development Assistance

Other Official Flows

Vague (Official Finance)

Flows categorized based on OECD-DAC guidelines

Project lifecycle

Status

Implementation (The next section lists the possible statuses.)

Pledge

Commitment

Implementation

Completion

Suspended

Cancelled

Milestones

Commitment

2017-12-20

Description

On December 20, 2017, Bank of China issued a EUR 200 million loan to Türk Telekomünikasyon A.Ş. (“Türk Telekom”) — a private telecommunications company — to expand connections with local businesses. The loan has an 8-year maturity, a 3 year grace period, and an interest rate of EURIBOR (-0.271%) + a 2% margin.

Additional details

1. Türk Telekom was a state-owned enterprise until it was privatized in 2005. In November 2005, 55% of Türk Telekom was sold to Oger Telecom's Joint Venture Group.

Number of official sources

1

Number of total sources

4

Download the dataset

Details

Cofinanced

No

Direct receiving agencies [Type]

Türk Telekom [Private Sector]

Loan Details

Maturity

8 years

Interest rate

1.729%

Grace period

3 years

Grant element (OECD Grant-Equiv)

33.0164%

Bilateral loan