MTS took dadyw Monday, September 28, the company “Mobile TeleSystems” (MTS) announced it reached an agreement with Sberbank of Russia on attraction of additional financing through two separate credit in
the amount of RUB 47 billion and RUB 12 billion
The maturity of the loan in the amount of RUB 47 billion – September 2013, annual interest rate of 16%.
The funds raised will be used for implementation of investment programs and financing subsidiaries within an upcoming acquisition of 50,91% of the shares in the authorized capital of OAO
“Comstar-OTS” the operator of integrated telecommunications services in Russia and the CIS. The closing of the transaction on purchase of the OJSC “Comstar-UTS” is expected in October 2009.
Separately, in August 2009, the company received a loan of JSC “Sberbank” in the amount of RUB 12 billion maturing in 2011 and an annual interest rate of 15%. These funds will be used to
the implementation of the program of capital investments in network development and other General corporate needs of the company.