REG - Turkiye Garanti Bank - Regarding the debts of Ojer Telekomünikasyon A.S.

Turkiye Garanti Bankasi ASAnnouncement

06/07/2018 18:25

RNS Number : 9334T
Turkiye Garanti Bankasi
06 July 2018
 


TO: Investment Community
FROM : Garanti Bank / Investor Relations
SUBJECT: Agreement on the restructuring of the debts of Ojer Telekomünikasyon A.Ş.
DATE: July 6, 2018
 
All creditors including our Bank have reached an agreement on restructuring the debts of Ojer Telekomünikasyon A.Ş. (OTAŞ), the major shareholder of Türk Telekomünikasyon A.Ş. (Türk Telekom), provided under the loan agreements.
 
As per the agreed structure, it is contemplated that OTAŞ's 1.925.000.000 Class A shares in Türk Telekom, representing 55% of Türk Telekom's issued share capital, which have been pledged as security for the existing facilities would be taken over by a special purpose vehicle incorporated or to be incorporated directly or indirectly by the creditors in the Republic of Turkey. Completion of the transaction is subject to agreements with respect to the facilities to be restructured at the new company level being agreed, all requisite corporate, governmental  and any other approvals and consents being obtained and all requisite conditions under the agreements being met.
 
Any material changes on the topic will be announced to the public in due course.
 
In contradiction between the Turkish and English versions of this public disclosure, the Turkish version shall prevail.
 
We declare that our above statements are in conformity with the principles included in the Board's Communiqué, Serial II Nr.15.1, that it exactly reflects the information we received; that the information complies with our records, books and documents; that we did our best to obtain the correct and complete information relative to this subject and that we are responsible for the declarations made in this regard.
 
Yours sincerely,
 
Garanti Bank
Contact Garanti Bank Investor Relations:
Tel: +90 212 318 2352
Fax: +90 212 216 5902
E-mail: investorrelations@garanti.com.tr
www.garantiinvestorrelations.com
 




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