Turkcell in financing deal with China Development Bank for Huawei kit

Turkish cellco, Turkcell is reported to have signed loan agreements with China Development Bank for the potential purchase of Huawei products and services worth up to US$250 million.

The loan is for capital investments during 2012 and 2013.

The financing, which is composed of two equal loans with respective tenors of five and seven years, has an all-in cost of approximately libor + 3% per annum.