Russian mobile operator MTS has signed an agreement with Sberbank to open two non-revolving credit lines worth Rbs100bn (E2.4bn) in total.
A Rbs60bn (E1.4bn) line will be used to repay the outstanding Rbs53bn loans due to Sberbank, while a Rbs40bn (E1bn)…
Russian mobile operator MTS has signed an agreement with Sberbank to open two non-revolving credit lines worth Rbs100bn (E2.4bn) in total.
A Rbs60bn (E1.4bn) line will be used to repay the outstanding Rbs53bn loans due to Sberbank, while a Rbs40bn (E1bn) line will be used as a cash cushion against the potential creditor puts arising from the merger with Comstar-UTS and for 3G investment in 2011.
Both lines have a seven-year tenor and an annual interest rate of 8.95%. The Rbs60bn line is expected to be opened immediately.
