[6-K] TURKCELL ILETISIM HIZMETLERI A.S. ADS Current Report (Foreign Issuer)
On 25 June 2025 Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC) reported via Form 6-K that its Board authorized two short-term sukuk programs totalling TRY 4.5 billion. The telecom’s payments subsidiary, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., may issue up to TRY 2 billion management-agreement based lease certificates, while the financing subsidiary, Turkcell Finansman A.Ş., may issue up to TRY 2.5 billion commodity-trading based lease certificates. Both instruments will be placed domestically, without public offering, to qualified or institutional investors and carry maturities of up to 12 months. Each issuance requires prior approval from Türkiye’s Capital Markets Board. The move expands Turkcell’s near-term funding flexibility and diversifies its capital structure without immediate equity dilution.
Il 25 giugno 2025 Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC) ha comunicato tramite il Modulo 6-K che il suo Consiglio di Amministrazione ha autorizzato due programmi sukuk a breve termine per un totale di 4,5 miliardi di TRY. La controllata dei pagamenti del gruppo, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., potrà emettere certificati di leasing basati su accordi di gestione fino a 2 miliardi di TRY, mentre la controllata finanziaria, Turkcell Finansman A.Ş., potrà emettere certificati di leasing basati su operazioni di commercio di merci fino a 2,5 miliardi di TRY. Entrambi gli strumenti saranno collocati domestically, senza offerta pubblica, a investitori qualificati o istituzionali e avranno scadenze fino a 12 mesi. Ogni emissione richiede l'approvazione preventiva del Consiglio dei Mercati Finanziari della Turchia. Questa operazione amplia la flessibilità di finanziamento a breve termine di Turkcell e diversifica la sua struttura del capitale senza diluizione immediata delle azioni.
El 25 de junio de 2025, Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC) informó a través del Formulario 6-K que su Junta autorizó dos programas de sukuk a corto plazo por un total de 4,5 mil millones de TRY. La subsidiaria de pagos de la empresa, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., podrá emitir certificados de arrendamiento basados en acuerdos de gestión por hasta 2 mil millones de TRY, mientras que la subsidiaria financiera, Turkcell Finansman A.Ş., podrá emitir certificados de arrendamiento basados en comercio de mercancías por hasta 2,5 mil millones de TRY. Ambos instrumentos se colocarán en el mercado nacional, sin oferta pública, a inversores cualificados o institucionales y tendrán vencimientos de hasta 12 meses. Cada emisión requiere la aprobación previa de la Junta de Mercados de Capitales de Turquía. Esta medida amplía la flexibilidad financiera a corto plazo de Turkcell y diversifica su estructura de capital sin dilución inmediata de acciones.
2025년 6월 25일, Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC)는 Form 6-K를 통해 이사회가 총 45억 TRY 규모의 단기 수쿡 프로그램 두 건을 승인했다고 보고했습니다. 통신사의 결제 자회사인 Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş.는 최대 20억 TRY 규모의 관리 계약 기반 리스 증서를 발행할 수 있으며, 금융 자회사인 Turkcell Finansman A.Ş.는 최대 25억 TRY 규모의 상품 거래 기반 리스 증서를 발행할 수 있습니다. 두 증권 모두 국내에서 공개 모집 없이 적격 또는 기관 투자자에게 배정되며 만기는 최대 12개월입니다. 각 발행은 터키 자본시장위원회의 사전 승인을 필요로 합니다. 이번 조치는 Turkcell의 단기 자금 조달 유연성을 확대하고 즉각적인 주식 희석 없이 자본 구조를 다변화합니다.
Le 25 juin 2025, Turkcell İletişim Hizmetleri A.Ş. (NYSE : TKC) a annoncé via le formulaire 6-K que son conseil d'administration avait autorisé deux programmes sukuk à court terme totalisant 4,5 milliards de TRY. La filiale de paiement de l'opérateur télécom, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., peut émettre jusqu'à 2 milliards de TRY de certificats de location basés sur des accords de gestion, tandis que la filiale financière, Turkcell Finansman A.Ş., peut émettre jusqu'à 2,5 milliards de TRY de certificats de location basés sur le commerce de marchandises. Les deux instruments seront placés au niveau national, sans offre publique, auprès d'investisseurs qualifiés ou institutionnels et auront une maturité jusqu'à 12 mois. Chaque émission nécessite une approbation préalable du Conseil des marchés financiers de Turquie. Cette opération augmente la flexibilité de financement à court terme de Turkcell et diversifie sa structure de capital sans dilution immédiate des actions.
Am 25. Juni 2025 meldete Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC) über Formular 6-K, dass sein Vorstand zwei kurzfristige Sukuk-Programme mit insgesamt 4,5 Milliarden TRY genehmigt hat. Die Zahlungstochtergesellschaft des Telekommunikationsunternehmens, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., darf bis zu 2 Milliarden TRY Managementvertrag-basierte Leasingzertifikate ausgeben, während die Finanzierungstochtergesellschaft, Turkcell Finansman A.Ş., bis zu 2,5 Milliarden TRY auf Warenhandel basierende Leasingzertifikate ausgeben darf. Beide Instrumente werden inländisch, ohne öffentliche Emission, an qualifizierte oder institutionelle Investoren platziert und haben eine Laufzeit von bis zu 12 Monaten. Jede Emission erfordert die vorherige Genehmigung der türkischen Kapitalmarktaufsichtsbehörde. Dieser Schritt erweitert Turkcells kurzfristige Finanzierungsspielräume und diversifiziert die Kapitalstruktur ohne sofortige Aktienverwässerung.
- Diversified funding: Access to Sharia-compliant sukuk broadens investor base and avoids equity dilution.
- Sizeable headroom: Board authorization totals TRY 4.5 billion, enhancing short-term liquidity flexibility.
- Potential leverage increase: Full draw could lift net debt and short-term obligations.
- Regulatory risk: Issuances require Capital Markets Board approval, leaving execution uncertain.
Insights
TL;DR: Board green-lights TRY 4.5 bn sukuk programs, boosting liquidity options; impact contingent on final pricing and uptake.
The authorizations provide Turkcell with an additional funding headroom of roughly US$140 million (at TL32/USD) per program, allowing rapid access to Sharia-compliant capital. Because maturities are capped at 12 months, the borrowings will likely be classified as short-term liabilities, pressuring liquidity ratios if fully drawn but manageable given Turkcell’s strong cash generation. No pricing details were disclosed, so the true cost of funds remains unknown. Overall, the filing signals proactive treasury management rather than an immediate balance-sheet change, leaving earnings forecasts unchanged until issuances materialize.
TL;DR: New sukuk capacity raises leverage potential but keeps tenor short; regulatory approval is key execution risk.
From a risk perspective, the sukuk structure limits refinancing risk to a 12-month horizon and avoids FX exposure by issuing in local currency. However, if the full TRY 4.5 billion is drawn, Turkcell’s net debt could rise by roughly 8-9% versus 2024 year-end figures, nudging leverage metrics higher. The private placement route reduces market execution risk but concentrates funding among institutional investors. The Capital Markets Board must still approve, introducing timing uncertainty. Absent that approval, the authorization has no operative effect. Overall credit impact is neutral pending final issuance volume and pricing.
Il 25 giugno 2025 Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC) ha comunicato tramite il Modulo 6-K che il suo Consiglio di Amministrazione ha autorizzato due programmi sukuk a breve termine per un totale di 4,5 miliardi di TRY. La controllata dei pagamenti del gruppo, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., potrà emettere certificati di leasing basati su accordi di gestione fino a 2 miliardi di TRY, mentre la controllata finanziaria, Turkcell Finansman A.Ş., potrà emettere certificati di leasing basati su operazioni di commercio di merci fino a 2,5 miliardi di TRY. Entrambi gli strumenti saranno collocati domestically, senza offerta pubblica, a investitori qualificati o istituzionali e avranno scadenze fino a 12 mesi. Ogni emissione richiede l'approvazione preventiva del Consiglio dei Mercati Finanziari della Turchia. Questa operazione amplia la flessibilità di finanziamento a breve termine di Turkcell e diversifica la sua struttura del capitale senza diluizione immediata delle azioni.
El 25 de junio de 2025, Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC) informó a través del Formulario 6-K que su Junta autorizó dos programas de sukuk a corto plazo por un total de 4,5 mil millones de TRY. La subsidiaria de pagos de la empresa, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., podrá emitir certificados de arrendamiento basados en acuerdos de gestión por hasta 2 mil millones de TRY, mientras que la subsidiaria financiera, Turkcell Finansman A.Ş., podrá emitir certificados de arrendamiento basados en comercio de mercancías por hasta 2,5 mil millones de TRY. Ambos instrumentos se colocarán en el mercado nacional, sin oferta pública, a inversores cualificados o institucionales y tendrán vencimientos de hasta 12 meses. Cada emisión requiere la aprobación previa de la Junta de Mercados de Capitales de Turquía. Esta medida amplía la flexibilidad financiera a corto plazo de Turkcell y diversifica su estructura de capital sin dilución inmediata de acciones.
2025년 6월 25일, Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC)는 Form 6-K를 통해 이사회가 총 45억 TRY 규모의 단기 수쿡 프로그램 두 건을 승인했다고 보고했습니다. 통신사의 결제 자회사인 Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş.는 최대 20억 TRY 규모의 관리 계약 기반 리스 증서를 발행할 수 있으며, 금융 자회사인 Turkcell Finansman A.Ş.는 최대 25억 TRY 규모의 상품 거래 기반 리스 증서를 발행할 수 있습니다. 두 증권 모두 국내에서 공개 모집 없이 적격 또는 기관 투자자에게 배정되며 만기는 최대 12개월입니다. 각 발행은 터키 자본시장위원회의 사전 승인을 필요로 합니다. 이번 조치는 Turkcell의 단기 자금 조달 유연성을 확대하고 즉각적인 주식 희석 없이 자본 구조를 다변화합니다.
Le 25 juin 2025, Turkcell İletişim Hizmetleri A.Ş. (NYSE : TKC) a annoncé via le formulaire 6-K que son conseil d'administration avait autorisé deux programmes sukuk à court terme totalisant 4,5 milliards de TRY. La filiale de paiement de l'opérateur télécom, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., peut émettre jusqu'à 2 milliards de TRY de certificats de location basés sur des accords de gestion, tandis que la filiale financière, Turkcell Finansman A.Ş., peut émettre jusqu'à 2,5 milliards de TRY de certificats de location basés sur le commerce de marchandises. Les deux instruments seront placés au niveau national, sans offre publique, auprès d'investisseurs qualifiés ou institutionnels et auront une maturité jusqu'à 12 mois. Chaque émission nécessite une approbation préalable du Conseil des marchés financiers de Turquie. Cette opération augmente la flexibilité de financement à court terme de Turkcell et diversifie sa structure de capital sans dilution immédiate des actions.
Am 25. Juni 2025 meldete Turkcell İletişim Hizmetleri A.Ş. (NYSE: TKC) über Formular 6-K, dass sein Vorstand zwei kurzfristige Sukuk-Programme mit insgesamt 4,5 Milliarden TRY genehmigt hat. Die Zahlungstochtergesellschaft des Telekommunikationsunternehmens, Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş., darf bis zu 2 Milliarden TRY Managementvertrag-basierte Leasingzertifikate ausgeben, während die Finanzierungstochtergesellschaft, Turkcell Finansman A.Ş., bis zu 2,5 Milliarden TRY auf Warenhandel basierende Leasingzertifikate ausgeben darf. Beide Instrumente werden inländisch, ohne öffentliche Emission, an qualifizierte oder institutionelle Investoren platziert und haben eine Laufzeit von bis zu 12 Monaten. Jede Emission erfordert die vorherige Genehmigung der türkischen Kapitalmarktaufsichtsbehörde. Dieser Schritt erweitert Turkcells kurzfristige Finanzierungsspielräume und diversifiziert die Kapitalstruktur ohne sofortige Aktienverwässerung.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2025
Commission File Number: 001-15092
TURKCELL İLETİŞİM HİZMETLERİ A.Ş.
(Translation of registrant’s name into English)
Turkcell Küçükyalı Plaza
Aydınevler Mahallesi İnönü Caddesi No:20
Küçükyalı Ofispark
34854 Maltepe
Istanbul, Türkiye
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F:
x Form 20-F ¨ Form 40-F
Enclosure: A press release dated June 25, 2025 announcing the registrant's decision to issue lease certificates and debt instruments.
Istanbul, June 25, 2025
Announcement Regarding the Decisions to Issue Lease Certificates and Debt Instrument
Our Company’s Board of Directors resolved that our wholly-owned subsidiary Turkcell Ödeme ve Elektronik Para Hizmetleri A.Ş. may issue management agreement-based lease certificates (sukuk) in accordance with capital markets legislation, through an asset leasing company based in Türkiye, at an amount of up to TRY 2 billion, with maturities of up to 12 months, in the domestic market, in one or more tranches, without a public offering, through private placement and/or sales to qualified investors.
Our Company’s Board of Directors also resolved that our wholly-owned subsidiary Turkcell Finansman A.Ş. may issue commodity trading-based lease certificates (sukuk), in accordance with capital markets legislation, through an asset leasing company based in Türkiye, at an amount of up to TRY 2.5 billion, with maturities up to 12 months, in the domestic market, in one or more tranches, without a public offering, as a private placement and/or to be sold to institutional investors.
The respective issuances are subject to the approval of the Capital Markets Board.
For more information:
Turkcell Investor Relations
investor.relations@turkcell.com.tr
Tel: + 90 212 313 1888
1
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, Turkcell İletişim Hizmetleri A.Ş. has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| TURKCELL İLETİŞİM HİZMETLERİ A.Ş. | |||
| Date: June 25, 2025 | By: | /s/ Özlem Yardım | |
| Name: | Özlem Yardım | ||
| Title: | Investor Relations Corporate Finance Director | ||
| TURKCELL İLETİŞİM HİZMETLERİ A.Ş. | |||
| Date: June 25, 2025 | By: | /s/ Kamil Kalyon | |
| Name: | Kamil Kalyon | ||
| Title: | Chief Financial Officer | ||
FAQ
How much sukuk can Turkcell (TKC) issue under the new authorization?
What is the maturity of Turkcell’s planned sukuk issuances?
Will the sukuk be offered to the public?
Does the issuance require regulatory approval?
Why is Turkcell using sukuk instead of conventional debt?
