MTS Secures Loan For Debt Refinancing

April 2006 | Company Finance Alert

Eager to secure not only its domestic lead position but also the continuing expansion of its global footprint, Russia's leading mobile operator Mobile TeleSystems (MTS) has raised a US$1.33bn syndicated loan in order to refinance its debt. According to the operator, the credit will be provided in two tranches, with the first tranche a three-year US$630mn vehicle extended at London Inter Bank Offering Rate (LIBOR) plus 0.8%. Meanwhile, the second tranche is a five-year loan, which will be re-paid at LIBOR plus 1% in the first three years and at LIBOR plus 1.15% in the next two

If you would like to subscribe to Emerging Europe Telecommunications Insight and gain instant access to this article, please click here to subscribe.

If you would like to take a trial to Emerging Europe Telecommunications Insight please click on the trial link below.