LONDON, May 24 (Reuters) - 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