MTS borrows USD1.3 billion to refinance debt

25 Apr 2006

Russian wireless market leader Mobile TeleSystems (MTS) has taken out a USD1.3 billion syndicated loan with a group of at least seven international banks to help refinance a previous USD420 million loan and other debts; the company owed a total of USD1.9 million as of October 2005. The new loan will be provided in two tranches – USD630 million over three years, plus an additional USD700 million five-year loan.

Russia, Mobile TeleSystems (MTS)