Nokia will supply telecommunications equipment and services to Turk Telekom in Turkey and Austria
Finnvera guarantees the supply of Nokia's telecommunications equipment and services to Turk Telekom and its subsidiaries in Turkey and Austria. Turk Telekom is one of the three largest telecom operators in Turkey and has a total of almost 50 million customers.
Turk Telekom is a long-term customer of both Nokia and Finnvera. The cooperation with Finnvera dates back more than 10 years and is already Finnvera's sixth guarantee for Nokia's deliveries to Turk Telekom. This time, the amount of the guaranteed loan is USD 189 million, of which Finnvera's buyer credit guarantee accounts for 95 per cent.
Funding is provided by Citibank, JPMorgan Chase Bank and Société Générale.
Name of the Guarantee Holder: Citibank, N.A., London Branch
Names of the Arrangers and Lenders: Citibank, N.A., London Branch; JPMorgan Chase Bank, N.A., London Branch and Société Générale
Names of the Exporter(s): Nokia Corporation and/or its subsidiaries
Name of the Borrower: Türk Telekomünikasyon A.S.
Names of the Buyers: Türk Telekomünikasyon A.S.; TT Mobil İletişim Hizmetleri A.Ş.; TT International Telekomünikasyon Sanayi ve Ticaret Limited Sirketi and Türk Telekom International AT GmbH
Goods: Telecommunication equipment and related services
Countries of Export transaction: Turkey and Austria
Credit amount: USD 189,000,000
Credit period: 8.5 years
Credit amount covered by Finnvera: USD 189,000,000
Percentage of cover: 95% of political and commercial risks
Environmental and social classification: C
Date of publish: 11 March 2021