MTS secures USD1 billion credit line

23 Nov 2009

According to Russian news agency Prime-Tass, the country’s largest cellco by subscribers, Mobile TeleSystems (MTS), has secured a credit line of USD1.07 billion to finance the purchase of network infrastructure equipment from Ericsson. The facility, backed by Sweden’s Export Credit Agency, has two tranches: the first, valued at USD429 million, has a maturity of June 2019, while the second tranche, worth USD646 million, is due to be repaid in October 2020. Mikhail Shamolin, President and CEO of MTS, said, ‘The terms and size of the loan that we were able to secure provide us with the necessary flexibility in our CAPEX plans going forward as we build out our networks to provide quality services to our subscribers.’

Russia, Ericsson, Mobile TeleSystems (MTS)