13 Apr 2007

NIB and Nordea arrange loan to Russian mobile operator

On 13 April, NIB together with Nordea Bank as mandated lead arrangers with Bayern LB as lead arranger signed a revolving loan facility agreement to an amount of USD 100 million with the Russian mobile network operator MegaFon.

The loan aims to support MegaFon in its further ambitions to upgrade the network capacity and distribution channels and thereby strengthen its long-term competitive position in the Russian market. MegaFon is one of the leading mobile telecom operators in the Russian Federation with over 30 million subscribers. Nordic TeliaSonera is the biggest single shareholder in the Russian operator. Nokia Siemens Networks acts as the main supplier of technological solutions and services for MegaFon.

“With this transaction NIB is supporting the Nordic telecommunications industry operating on the vibrant Russian market,” says Tore Emanuelsson, Senior Regional Manager of the Nordic Investment Bank.

NIB is a multilateral financial institution owned by eight member countries: Denmark, Estonia, Finland, Iceland, Latvia, Lithuania, Norway and Sweden. The Bank finances private and public projects in and outside the member countries. NIB has the highest possible credit rating, AAA/Aaa, with the leading rating agencies Standard & Poor’s and Moody’s.