MOSCOW, Russia — MTS (NYSE: MBT, MOEX: MTSS), Russia’s leading telecommunications operator and digital services provider, announces the improvement of financing terms with VTB Bank via the opening of a 55-billion-ruble credit line and full early repayment of an existing 50-billion-ruble loan.
“One of our key strategic financial focus areas is steadily improving the structure of our debt portfolio. We continue to work toward optimizing debt management by reducing interest rates, increasing tenor, and diversifying sources of financing,” commented Andrey Kamensky, MTS Vice President for Finance. “Opening this new credit line and refinancing our existing credit on more favorable terms is a further step in strengthening our mutually beneficial partnership with VTB, as well as a demonstration of MTS’s overall solid financial position.”
The new credit line provides MTS the opportunity to draw up to 55 billion rubles in multiple stages over the next six months. As a first step, the company is drawing down 25 billion rubles that, combined with additional funds, are being used to repay an existing 50-billion-ruble loan secured from VTB in September 2018. Compared to the previous loan, the interest rate on the new line was lowered and the repayment period increased from 2 to 5 years. The Company plans to use the remaining 30 billion rubles of available credit in further optimizing its debt portfolio in 2019-2020.
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For further information, please contact in Moscow:
Investor Relations Department
Mobile TeleSystems PJSC
Tel: +7 495 223 2025