MOSCOW, November 22 (RIA Novosti) - Vimpelcom, a leading Russian mobile phone operator which operates under the Beeline brand, signed an agreement Tuesday on obtaining a $250-million syndicated loan from several banks.
Citibank, N.A. (Citigroup) and Sumitomo Mitsui Banking Corporation Europe Limited (SMBCE) are the lead managers and financial agents of the deal.
The three-year unsecured loan comprises two tranches totaling $147 and $103 million.
Annual interest rates on loans are LIBOR (London Interbank Offered Rate) + 1.5% for the first tranche, and 1.65% for the second.
Subsequent rates of interest will depend on VimpelCom's credit status.
The company intends to use the loan to develop communication networks, and for corporate purposes, including debt refinancing.
