22-05-2025
Turkcell Secures €100 Million Murabaha Financing from Emirates NBD
Turkcell, a digital services and telecommunications company based in Türkiye, has announced that its subsidiary, TDC Veri Hizmetleri (TDC), has secured €100 million in murabaha financing through an agreement with Emirates NBD Bank.
The five-year financing facility is intended to support Turkcell Group's data centre investments through TDC, advance its digital infrastructure initiatives, and align with its long-term strategic plans.
The murabaha-based financing, which complies with Islamic finance principles, represents a step forward in TDC's efforts to strengthen its position in the data centre and cloud services sector.
Turkcell's broader strategy includes the development of high-capacity and environmentally sustainable data centres to address growing demand in areas such as cloud computing, AI and big data.
The company aims to contribute to national digitalisation efforts while serving local businesses and attracting international clients seeking secure and scalable digital solutions.
Commenting on the agreement, Kamil Kalyon, Chief Financial Officer at Turkcell, stated:
'We are proud to attract international investment into our data centre operations. And we believe these investments will pave the way for more strategic partnerships and future investments, unlocking new opportunities for growth and collaboration in the digital landscape.'
Kalyon added that the financing structure is expected to support further cooperation in the Gulf region.
'This murabaha financing structure, adhering to Islamic finance principles, is expected to open new avenues for collaboration in the Gulf region. By diversifying our financing portfolio, TDC can mitigate risks while exploring further strategic partnerships in key markets.'
Emirates NBD Capital, the global investment banking arm of the Emirates NBD group, acted as both Mandated Lead Arranger and Bookrunner for the transaction.
The institution had previously supported Turkcell's US$ 1 billion Eurobond issuance in 2024.
Pri McNair, Group Co Head of Corporate Coverage at Emirates NBD, said:
'Emirates NBD's EUR100 million murabaha financing deal with Turkcell is part of a long-term strategy to support growth-oriented companies investing in digital transformation. This deal reflects our confidence in Turkcell and we are proud to support the company's data centre expansion, consolidating its position as a telecom leader.'
