Companies / Russia
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MTS Secures Loan For Debt Refinancing
April 2006 | Company Finance AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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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