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Telecom-holding Vimpelcom Ltd signed an agreement on opening a credit line for 1 billion dollars in China Development Bank and Bank of China
Telecom holding Vimpelcom Ltd. (owns, including the Russian "VimpelCom") has signed an agreement on the opening of a credit line for $ 1 billion in China Development Bank and Bank of China, the holding said.
The credit line has a term of eight years and is secured by guarantees from Vimpelcom Holdings BV. The funds raised will be used to finance capital expenditures for the operators of the holding. The new loan complements the $ 2012 million loan taken from China Development Bank in December 500.
According to the end of the third quarter, Vimpelcom net debt amounted to 21,736 billion dollars, having decreased by 6% compared to the previous quarter. Net Debt / EBITDA ratio decreased to 2,5 from 2,6. Total debt fell by 5% - to 27,714 billion dollars.
Reference: Vimpelcom Ltd. - the seventh telecommunications company in the world by the number of subscribers, its total subscriber base has about 220,6 million users. Vimpelcom unites operators providing services in the Russian Federation, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, CAR, Italy and Canada.
The largest assets of the holding are 100% of the Russian Vimpelcom OJSC and 100% of the Italian Wind Telecomunicazioni. The largest shareholders of the holding are Altimo (which manages the telecommunications assets of Mikhail Fridman's Alfa Group, owns 47,85% of Vimpelcom's votes) and Telenor (42,95% of the votes).