Avea looking at USD1.5bn loan

25 Jan 2007

Turkey’s third largest cellular operator Avea says it is close to securing a USD1.5 billion syndicated loan from foreign banks. Part of the loan will be used to restructure existing debt, with the remainder going towards overseas investments. Avea is controlled by state-backed wireline operator Turk Telecom and claimed 7.3 million of Turkey’s 50.2 million cellular subscribers at the end of September, according to TeleGeography’s GlobalComms database.

Turkey, TT Mobil (Turk Telekom), Turk Telekom