Vimpelcom secures USD3.5bn loan

31 Jan 2008

The Russian cellular operator Vimpelcom has said it has received approval from banks for a massive loan to help fund its proposed USD4.3 billion acquisition of wireline sister company Golden Telecom. The firm’s CEO, Alexander Izosimov, said: ‘We have commitment letters from a group of lenders for a total of USD3.5 billion, and additional available funds from our own resources.’ Reuters reports that the loan is being arranged through eight banks: ABN AMRO, Barclays, BNP Paribas, Calyon, Citigroup, HSBC, ING and UBS.

Russia, Beeline (Russia), VEON