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Turkey Wealth Fund to Borrow About $1.6B for Turk Telekom Buyout

  • Turkish sovereign wealth fund known as TWF is set to borrow around $1.6b from banks to finance its planned buyout of Turk Telekomunikasyon AS
  • The stake could be worth more than the size of the loan as the deal may see Turk Telekom pay out around $200m from accumulated dividends
  • The wealth fund and LYY Telekomunikasyon AS, which represents the banks holding a 55% stake in Turk Telekom, declined to comment
  • The fund is likely to have a two-year grace period with no payments and repay the loan during the following four years, according to the people - bbg
MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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