MegaFon secures USD600m financing from CDB

4 Sep 2015

Russian telecoms operator MegaFon has announced the signing of a framework cooperation agreement with China Development Bank (CDB) Corporation for potential new financing of up to USD600 million. The new financing is intended to facilitate the development of the company’s mobile network through the purchase of equipment and services from Huawei Technologies, as well as to refinance part of MegaFon’s existing debts. ‘We are very proud to have CDB as our long-standing financial partner,’ commented MegaFon’s CEO Ivan Tavrin, adding: ‘This new framework cooperation agreement is very important for both MegaFon and CDB as it sets the strategic direction for business development between our organisations. During the last ten years this partnership has proved to be very effective and we are looking forward to explore new business opportunities with CDB.’

Russia, Huawei Technologies, MegaFon