MTS Signs Syndicated Loan Agreement
18 Mai 2009 - 3:39PM
Dow Jones News
OAO Mobile TeleSystems (MBT), the largest mobile phone operator
by users in Russia, Monday said it had signed a facility agreement
to refinance a portion of its $1.33 billion syndicated loan
facility.
Having concluded negotiations with a consortium of banks, MTS
said it had signed the facility agreement to refinance the first
tranche of its existing $1.33 billion syndicated loan facility in
the amount of $630 million, which was scheduled to mature in May
2009.
The company raised $295 million for facility A and EUR214.5
million for facility B to be followed by an additional tranche in
the coming weeks as part of the new facility.
The facility will mature in 2012 and will have an interest rate
of Libor plus 6.5%.
The Mandated Lead Arrangers are Absolut Bank, Bank of China
(601988.SH), Bank of America (BAC), Bayerische Landesbank, BNP
Paribas (BNP.FR), Credit Suisse (CS), Export Development Canada,
HSBC Bank PLC (HBC), ING Bank N.V., JPMorgan Chase Bank (JPM),
Société Générale (SCGLY), Royal Bank of Scotland PLC (RBS),
UniCredit (UCG.MI) and WestLB AG.
Credit Suisse and ING acted as co-ordinating banks for the
refinancing and ING is acting as the facility agent.
"This facility provides MTS with additional financial
flexibility to continue our investment programs and meet our future
obligations," said MTS' director of corporate finance Alexei
Kaurov.