Mobile TeleSystems OJSC (MTS), the leading telecommunications provider in Russia and the CIS, offering mobile and fixed voice, broadband, pay TV as well as content and entertainment services has announced that it has signed an agreement with Sberbank of Russia to open a non-revolving line of credit for a total amount of RUB 50 billion (USD 1.18 billion) with a maturity in September 2021. The group operator also has amended terms of an existing credit agreement in the amount of RUB 20 billion.
The Telecom Group which services over 100 million mobile subscribers in Russia, Ukraine, Turkmenistan, Armenia and Belarus said that the funds will be used for general corporate needs.
Alexey Kornya, Vice President and Chief Financial Officer of MTS
We are pleased to announce the signing of the new agreements with our long-standing partner Sberbank. The size and the terms of the agreements concluded in the challenging market environment showcase MTS’s sound financial position and the strength of our relationship with Sberbank.
