LONDON May 24 Turkish telecom Ojer
Telekomunikasyon AS, has signed a $4.75 billion syndicated loan
that will refinance and extend the maturity of existing debt and
pay a $1.5 billion dividend, the arranging banks said on Friday.
The loan, which was underwritten and arranged by mandated
lead arrangers and bookrunners Akbank, BNP Paribas, Citigroup,
Deutsche Bank, Garanti Bank and JP Morgan, was heavily
oversubscribed and participating banks were scaled back.
A new $1 billion, 7.75-year bullet D tranche was added to
replace a proposed $1 billion, two-year bridge loan to take
advantage of demand, bankers said.
The loan also includes a $228 million, five-year amortising
term loan, a 211.97 billion euro five-year amortising term loan,
a $3 billion 7.5-year amortising term loan and a $250 million,
7.5-year revolving credit.
In addition to the six arranging banks, 23 banks joined the
deal, including existing banks and some new lenders.
Ojer, also known as OTAS, owns a 55 percent stake in Turk
Telekomunikasyon AS Turkey's biggest telephone
company, which it bought in 2005.
(Reporting by Sandrine Bradley, editing by Tessa Walsh)