Turkcell secures $1bn Murabaha facility to fund 5G and digital infrastructure
Turkey’s Turkcell has secured a $1 billion Shariah-compliant syndicated Murabaha financing facility to support its 5G rollout and digital infrastructure investments, the company said.
The facility was initially launched at $500 million but was increased to $1 billion after attracting strong demand from international lenders, with subscriptions exceeding the original target by around 2.4 times.
The seven-year facility carries a profit rate of secured overnight financing rate (SOFR) plus 1.95%, with a total cost of SOFR plus 2.14% including fees, and includes a two-year grace period on principal repayments.
Free, in under 30 seconds
Join thousands of professionals reading Salaam Gateway — the Global Islamic Economy Gateway.
Already a member? Sign in
- 5 free articles every month
- Weekly Islamic-economy newsletter
- Save articles to read later
Muhammad Ali Bandial