Russia’s Mobile TeleSystems (MTS) has opened a Rbs50bn (US$1.18bn) non-revolving credit line with local lender Sberbank and extended an existing Rbs20bn (US$473.68m) credit facility.
The new Rbs50bn credit line matures in September 2021 and the funds…
Russia’s Mobile TeleSystems (MTS) has opened a Rbs50bn (US$1.18bn) non-revolving credit line with local lender Sberbank and extended an existing Rbs20bn (US$473.68m) credit facility.
The new Rbs50bn credit line matures in September 2021 and the funds will be used for general corporate purposes, the Moscow-based telco said in a statement.
The final maturity for the existing Rb20bn credit facility, agreed with Sberbank in April this year, has been extended from July 2015 to September 2017.
MTS CFO Alexey Kornya commented: “The size and the terms of the agreements concluded in the challenging market environment showcase MTS’ sound financial position and the strength of our relationship with Sberbank.”
The telco, which is listed on the Moscow and New York stock exchanges, posted revenues of Rbs98.9bn (US$2.34bn) for Q2 2014, up 1.4% year-on-year. OIBDA for the period was down 0.6% to Rbs43.2bn (US$1.02bn), while net debt as of 30 June 2014 stood at Rbs149.9bn (US$3.55bn).
