UPDATE 1-Turkcell signs $285 mln loan to invest in 3G
* Turkcell signs $285 million loan deal * Loan will pay for 2G and 3G infrastructure * Turkcell to purchase equipment from Ericsson
(Adds details, background)
ISTANBUL, July 1 (Reuters) - Turkcell (TCELL.IS) (TKC.N), Turkey's biggest mobile-phone operator, said on Wednesday it has signed a loan deal for $285 million to invest in second- and third-generation technology from Sweden's Ericsson (ERICb.ST).
The loan will finance part of the $750 million in imports Turkcell plans in order to expand its 2G and 3G infrastructure, the Istanbul-based company said in a filing.
Turkey's high-speed 3G network is expected to begin operating at the end of July. Turkcell's competitors, Vodafone (VOD.L) and Avea (TTKOM.IS), have also won licenses for the network.
The loan to buy equipment and services from Ericsson, the world's biggest maker of mobile networks, was arranged by Credit Agricole Bank's (CAGR.PA) Calyon and Nordea Bank AB (NDA.ST) and will be guaranteed by the Swedish Export Credits Guarantee Board, the Turkcell statement said.
The cost of the loan is 4 percent to 4.5 percent, and it has a five-year maturity with bi-yearly payments, it said.
Shares in Turkcell, which has 37 million customers, or a 56 percent share of the Turkish market, rose 1.75 percent to 8.70 lira at 0757 GMT. (Reporting by Ayla Jean Yackley)
