An important step by Türk Telekom Group to diversify its funding sources.

Turkish Telecom, which continues its efforts to diversify alternative financing, has completed the issuance of its first lease certificate (sukuk) with a nominal value of 250 million TL and a maturity of 93 days through its subsidiary TTNET.

TTNET, the subsidiary of Turkish Telecom in the fixed broadband and fiber retail sector, continues to take strategic steps towards capital markets. According to the statement, Turkish Telecom, which is working to diversify alternative financing, has completed the issuance of its first lease certificate (sukuk) with a nominal value of 250 million TL through its subsidiary TTNET. 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 with strong demand from investors compared to market counterparts.

TTNET signed its first lease certificate issuance under the issuance ceiling permission of 3 billion TL obtained from the Capital Markets Board on June 7, enabling a significant step in diversifying the financing of the Turkish Telecom Group. The issuance was based on asset-backed fiber internet service package portfolios and offered to investors through alternative financing methods. The issuance, which collected demand on November 4, was met with intense interest from investors.

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