NASDAQ-listed VimpelCom has completed an up to US$1.8bn revolving credit facility to replace an existing US$500m RCF signed in 2011.
Eleven banks committed to the facility, which has an aggregate amount of US$1.65bn and a three-year tenor. VimpelCom has…
NASDAQ-listed VimpelCom has completed an up to US$1.8bn revolving credit facility to replace an existing US$500m RCF signed in 2011.
Eleven banks committed to the facility, which has an aggregate amount of US$1.65bn and a three-year tenor. VimpelCom has an option to increase the RCF by US$150m within the next six months.
The banks who signed up for the RCF are Barclays Bank, BNP Paribas Fortis, Citi, Credit Agricole, Credit Suisse, Deutsche Bank, HSBC, ING, Intesa Sanpaolo, Raiffeisen Bank International / ZAO Raiffeisenbank and Societe Generale.
Separately, VimpelCom signed a new three-year US$500m term facility with Alfa-Bank.
Both credit facilities are unsecured.
VimpelCom said the new facilities will be used for general corporate purposes.
VimpelCom’ CFO Andrew Davies commented: “These two new facilities substantially improve the liquidity profile and financial flexibility of the group”.
