Commentary & Deal Flow

Türk Telekomünikasyon A.Ş. (“Türk Telekom”) (Ticker: TURKTI) exp BB/BB- (s/s) by S&P/Fitch US$ benchmark 144A/Reg S 7y FXD sr unsec Green notes due 10/7/32. JPM (B&D)/MUFG as JGCs/JBRs. ING as JBR. Green Bond Structuring Coordinator: MUFG. Coupon: Fixed, semi-annual, 30 / 360. Denoms: US$200k x US$1k. Listing: Euronext Dublin (Global Exchange Market). Law: English Law. UOP: The net proceeds are intended to be applied to finance and/or refinance eligible businesses and projects in accordance with the Issuer’s Sustainable Finance Framework. Investor Presentation: http://www.netroadshow.com/nrs/home/#!/?show=0e82f65c (Recommended)ORVisit http://www.netroadshow.com and enter the entry code: TurkTel25 (not case-sensitive). Pricing 9/30. Settle 10/7 (T+5). IPTs: 7.375% area.