Turkcell Iletisim subsidiary eyes TRY 1 billion debt instruments

By Marisa Wong

Los Angeles, Aug. 4 – Turkcell Iletisim Hizmetleri AS announced its board of directors resolved that wholly owned subsidiary Turkcell Odeme ve Elektronik Para Hizmetleri AS will issue debt instruments, according to a 6-K filing with the Securities and Exchange Commission.

The issuance will be at a nominal value of up to TRY 1 billion in one or more tranches, with various maturities up to one year.

The bonds will be offered in the domestic market as a private placement or sold to institutional investors.

The issuances are subject to approval of the Capital Markets Board of Turkey.

The mobile phone operator is based in Istanbul.

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