Turkcell (NYSE: TKC) signs $1B 7-year Murabaha loan for 5G rollout

Rhea-AI Filing Summary

Turkcell İletişim Hizmetleri A.Ş. has signed a USD 1,000,000,000 Murabaha syndicated loan facility. The Islamic finance-compliant loan, led by HSBC Bank Middle East with participation from 14 international banks, is intended to fund investments in next-generation communication technologies, primarily 5G.

The facility has a 7-year maturity with a 2-year grace period for principal repayment. It carries an annual cost of 3‑month SOFR plus a 1.95% profit rate and an all-in annual cost of 3‑month SOFR plus 2.14%. The company’s board had previously postponed public disclosure of the transaction due to uncertainties around signing that could have affected investment decisions and share value.

Insights

Telecom credit analyst

$1B 7-year Murabaha boosts 5G funding but lifts leverage risk.

Turkcell has arranged a USD 1,000,000,000 Murabaha syndicated loan with a 7-year maturity and 2-year principal grace. The stated purpose is financing next-generation network investments, especially 5G, which are typically capital-intensive but important for competitiveness in telecom markets.

The pricing at 3‑month SOFR plus a 1.95% profit rate, with an all-in annual cost of 3‑month SOFR plus 2.14%, indicates relatively modest spread-based funding tied to floating rates. This structure exposes interest expense to future SOFR movements but locks in the margin component over the loan’s life.

The deferred disclosure, justified by potential effects on investment decisions and share value while terms were uncertain, underscores the transaction’s significance. Future financial statements will clarify how this facility alters Turkcell’s debt profile, interest costs, and capital spending pace as 5G-related investments progress over the 7-year term.

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FAQ

What financing did Turkcell (TKC) announce in its March 2026 6-K?

Turkcell announced a USD 1,000,000,000 Murabaha syndicated loan facility. The Islamic finance-compliant loan is intended to support investments in next-generation communication technologies, mainly 5G, with funding from 14 international banks.

What are the key terms of Turkcell’s new Murabaha syndicated loan?

The Murabaha loan totals USD 1,000,000,000 with a 7-year maturity and 2-year grace period for principal. Its annual cost is 3‑month SOFR plus 1.95% profit, with an all-in annual cost of 3‑month SOFR plus 2.14%.

How will Turkcell (TKC) use the USD 1 billion Murabaha facility?

Turkcell plans to use the USD 1,000,000,000 Murabaha facility to fund investments in next-generation communication technologies. The company specifically highlights 5G as the primary focus of these capital expenditures over the loan’s term.

Who arranged Turkcell’s Murabaha syndicated loan and how many banks joined?

HSBC Bank Middle East Limited led Turkcell’s Murabaha syndicated loan. The facility was arranged with participation from 14 international banks, indicating broad lender interest in funding the company’s next-generation network investments.

Why did Turkcell postpone public disclosure of the Murabaha loan agreement?

Turkcell’s board postponed disclosure because uncertainties during the signing process could have affected investors’ decisions and share value. The decision was taken pursuant to Article 6 of the Communiqué on Material Events of the Capital Markets Board.

What is the cost structure of Turkcell’s Murabaha facility compared with SOFR?

The facility’s annual cost is defined as 3‑month SOFR plus a 1.95% profit rate, with an all-in annual cost of 3‑month SOFR plus 2.14%. This ties Turkcell’s borrowing cost to future short-term U.S. dollar interest benchmarks.

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 March 2026

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  20-F  ¨ Form 40-F

Enclosure: A press release dated March 23, 2026 announcing the registrant's Murabaha Syndicated Loan Facility.

Istanbul, March 23, 2026

Announcement Regarding the Murabaha Syndicated Loan Facility

In order to fund our Company’s investments in next-generation communication technologies, primarily 5G; a Murabaha syndicated loan agreement in the amount of USD 1,000,000,000, in compliance with Islamic finance principles, with the participation of 14 international banks under the leadership of HSBC Bank Middle East Limited has been signed. The loan has a maturity of 7 years (with a 2-year grace period for principal repayment), an annual cost of 3M SOFR + 1.95% profit rate, and an all-in annual cost of 3M SOFR + 2.14%.

As the uncertainties in the process of signing the loan agreement could affect investors’ investment decisions and the value of the Company’s shares, pursuant to Article 6 of the Communiqué on Material Events of the Capital Markets Board, the Board of Directors has resolved to postpone the public disclosure of such information.

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: March 23, 2026	By:	/s/ Özlem Yardım
		Name:	Özlem Yardım
		Title:	Investor Relations Corporate Finance Director

	TURKCELL İLETİŞİM HİZMETLERİ A.Ş.
Date: March 23, 2026	By:	/s/ Kamil Kalyon
		Name:	Kamil Kalyon
		Title:	Chief Financial Officer