Avea gets USD1.6 billion loan

26 Apr 2007

Turkey’s third largest mobile operator Avea has received a USD1.6 billion syndicated loan, reports news agency Cihan. The loan will be used for new investments and for restructuring existing loans and operational expenses. The ‘global coordinators’ of the agreement, involving ‘many’ banks were named as International Finance Corporation (IFC, a member of World Bank Group) and ABN Amro. The loan will mature in eight to nine years. The company says the loan will help it to form long-term plans, and that the participation of international banks and financial institutions demonstrated trust in Avea and Turkey as a whole.

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