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Monday, 3 April 2017

Turk Telekom Owner Said to Miss Another $290 Million Payment - Bloomberg

Turk Telekom Owner Said to Miss Another $290 Million Payment - Bloomberg:

"The majority owner of Turkey’s biggest phone company failed to pay another installment on its $4.75 billion debt, pushing the largest syndicated loan ever extended in the country further into arrears, four people with knowledge of the matter said. Otas, an Ankara-based special purpose vehicle that owns a majority stake in Turk Telekomunikasyon AS, or Turk Telekom, missed the $290 million repayment due last week after skipping a payment for the same amount in September, said the people, who asked not to be named because the matter is confidential. The outstanding principal on the loan, received from 29 Turkish and international lenders in 2013, is $4.6 billion, they said."



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