Turkish Telecom Completes 250 Million TL Sukuk Issuance with Subsidiary TTNET

Foreks - TTNET, the subsidiary of Türk Telekom, Turkey's digital transformation leader, continues to take strategic steps towards capital markets in the fixed broadband and fiber retail sector. Türk Telekom is advancing its pioneering efforts to enhance alternative financing diversity, completing the issuance of its first rental certificate (sukuk) with a nominal value of 250 million TL, maturing in 93 days. The sukuk issuance, conducted through Türkiye Emlak Katılım Bankası A.Ş. and its 100% subsidiary Emlak Varlık Kiralama A.Ş., was successfully completed in a short time due to strong demand from investors, outperforming market peers.

TTNET, under the issuance ceiling permission of 3 billion TL granted by the Capital Markets Board on June 7, 2024, made its first rental certificate issuance, marking a significant step for the Türk Telekom Group in diversifying financing sources. The issuance, based on a portfolio of Fiber Internet Service Packages, was offered to investors through alternative financing methods. The issuance, which took place on November 4, 2024, received a strong response from investors.

Kaan Aktan, Deputy General Manager of Türk Telekom Finance, stated regarding the matter: “With TTNET's rental certificate issuance, we have taken a strong step towards diversifying our financing sources as the Türk Telekom Group. This instrument, compliant with participation finance principles, holds strategic value for our group’s sustainable growth. In line with our mission to contribute to the development of our country and the growth of the sector through our technological infrastructure, extensive service network, and continuous investments, we aim to reach a wider investor base in the capital markets. We will continue our efforts in line with our vision to lead Turkey's digital transformation and propel our country into the future.”