Turkcell announced that its subsidiary, TDC Veri Hizmetleri (TDC), has secured €100 million in murabaha financing through a strategic agreement with Emirates NBD Bank, a leading banking group in the Middle East and the Turkiye MENAT region. The five-year financing agreement 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.
Strategic Financing to Drive Data Center Expansion
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. Turkcell’s strategy focuses on high-capacity, eco-friendly data centers to meet the growing demands of cloud computing, AI, and big data. Aligning with national digitalization goals, Turkcell supports local businesses while attracting global customers seeking secure and scalable digital solutions.
“The financing secured with Emirates NBD is a testament to the confidence that global financial institutions have in Turkcell. It further affirms that our strategic commitment to driving future growth and delivering value to our investors is steering us in the right direction. We are proud to attract international investment into our data center 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,” said Kamil Kalyon, Chief Financial Officer at Turkcell.
Diversifying Financing Sources and Strengthening Gulf Relations
Kamil Kalyon continued, “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. This agreement with Emirates NBD underscores Turkcell’s commitment to expand its digital infrastructure capabilities while reinforcing its role as a trusted partner in the global finance community.”
Emirates NBD Capital, the global investment bank for the Emirates NBD group, which supported Turkcell’s USD1 billion Eurobond issuance in 2024, played a leading role in the deal, acting as both Mandated Lead Arranger and Bookrunner.
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’re proud to support the company’s data center expansion, consolidating its position as a telecom leader. This transaction further reinforces Emirates NBD’s role as a trusted financial partner delivering tailored solutions that drive sustainable growth.”
