Telecoms group VimpelCom has agreed an eight-year US$1bn unsecured credit facility with China Development Bank and Bank of China.
VimpelCom’s CFO, Andrew Davies, said this latest loan would give it even greater financial flexibility.
“Our cash…
Telecoms group VimpelCom has agreed an eight-year US$1bn unsecured credit facility with China Development Bank and Bank of China.
VimpelCom’s CFO, Andrew Davies, said this latest loan would give it even greater financial flexibility.
“Our cash flows remain robust and, with an improved debt maturity schedule, no major refinancing obligations until 2020, and a strong liquidity position, VimpelCom is well funded,” Davies said in a statement.
The Amsterdam-headquartered company will use the loan to fund capex for a number of its operating subsidiaries, where it is looking to improve its networks to capitalise on the growth in mobile data.
VimpelCom signed the facility through subsidiary VimpelCom Holdings, and it is guaranteed by VimpelCom Amsterdam.
In December 2012, it had already inked a US$500m loan with China Development Bank.
Earlier this year, VimpelCom secured a US$1.8bn revolving credit facility, with a syndicate of European banks, to replace an existing US$500m RCF signed in 2011.
