17 Aug 2018 12:04

MegaFon signs agreement with Sberbank for 80-bln-ruble loan, raises 25 bln rubles within deal

MOSCOW. Aug 17 (Interfax) - MegaFon has signed a loan agreement with Sberbank for provision of a loan with overall volume of 80 billion rubles, the telecoms operator said in a statement.

MegaFon has already raised 25 billion rubles within the deal.

"Fixed-rate loans of 15 and 10 billion rubles have been secured for 4 and 5 years, respectively. The company has received a loan to finance overall corporate needs and if necessary, is planning to allocate funds to finance a program to buy back ordinary shares and Global Depositary Receipts (GDRs) issued by the company, to be carried out by MegaFon Investments (Cyprus) Limited, a wholly owned subsidiary of MegaFon, on the terms indicated in the program," the operator said in the statement.