Russian operator MTS said it has agreed with Gazprombank to reduce interest rates on outstanding loans.
The interest rate on a E100m facility was lowered from 8% to 7% per year, while the interest rate on a Rbs6.46bn (E159m) was reduced from 13% to…
Russian operator MTS said it has agreed with Gazprombank to reduce interest rates on outstanding loans.
The interest rate on a E100m facility was lowered from 8% to 7% per year, while the interest rate on a Rbs6.46bn (E159m) was reduced from 13% to 10.95%. In addition, the interest rate on a E100m revolving facility was cut down from 8% to 7%.
All facilities mature in September 2012.
In a release MTS said: “The reduction of interest expenses is part of the company’s strategy at optimizing its debt profile. MTS aims to continue negotiating with the major lenders to further lower the Company’s interest exposure.”
