Turkcell Guarantees Loan for Ukraine GSM Expansion

Turkish telco, Turkcell says that it is to guarantee a US$75 million loan being signed by its Dutch subsidiary, Financell to fund network expansion by Astelit – a mobile network in Ukraine. The financing will be used for the products and services that will be purchased from Ericsson AB and Ericsson Ukraine for Astelit LLC’s 2G infrastructure investments.

In a board meeting in February, the company decided to assure export financing up to US$750 million to be used for the 2G and 3G network related expenditures of Turkcell Group Companies. The maturity of the financing will be 7 years with semi-annual payments with a cost of 4.75% – 4.95%,

Astelit, which trades under the “life” brand is co-owned by Turkcell (54.2%) and Ukrainian SCM Holdings (45.8%).

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