29 Jun 2009

NIB grants A/B loan to Russian MTS

An agreement for structured financing has been signed between NIB and Russia’s leading mobile phone operator Mobile Telesystems OJSC (MTS).

According to the agreement, NIB will provide an A/B loan for financing the expansion of the company’s 2G and 3G mobile network in Russia, Ukraine, Armenia and Turkmenistan. The NIB-financed investment programme will improve the quality of communications in these countries through improved access to the Internet, multimedia and telecommunication services.

Both the A Loan allocated by NIB with a 7-year maturity and the 3-year-maturity B Loan amount to EUR 40 million each. The financing is being provided in cooperation with the European Bank for Reconstruction and Development and the European Investment Bank