August 11 (SeeNews) - Turkish mobile phone operator Turkcell [IST:TCELL] said it has signed a 500 million euro ($589 million) loan agreement worth with China Development Bank (CDB).
Turkcell will use the loan facility to finance its infrastructure investments in the following three years, it said in a statement on Monday.
The loan can be utilised in both euro and renminbi and has a term of eight years, including a three-year grace period.
The loan carries an annual interest rate of Euribor+2.29% for the portion denominated in euro and fixed 5.15% for the renminbi-denominated portion.
($ = 0.8487 euro)