Turkcell secures financing to invest in data center business
ISTANBUL
The leading Turkish telecom company Turkcell has announced that its subsidiary, TDC Veri Hizmetleri (TDC), has secured 100 million euros in murabaha financing through a strategic agreement with Emirates NBD Bank.
The five-year financing is intended to empower Turkcell Group’s data center investments via TDC, accelerate its digital infrastructure initiatives, and align with its long-term strategic growth objectives, the company said in a statement.
The financing agreement, which is based on interest-free murabaha principles, marks a significant milestone for TDC as it enhances its position in the data center and cloud business, it added.
Turkcell’s strategy focuses on high-capacity, eco-friendly data centers to meet the growing demands of cloud computing, AI and big data, said the statement.
The financing secured with Emirates NBD is a testament to the confidence that global financial institutions have in Turkcell, commented Kamil Kalyon, Chief Financial Officer at Turkcell.
This murabaha financing structure is expected to open new avenues for collaboration in the Gulf region, he said.
“This deal reflects our confidence in Turkcell and we’re proud to support the company’s data center expansion, consolidating its position as a telecom leader,” said Pri McNair, group co-head of corporate coverage at Emirates NBD.
