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Mobile TeleSystems

March 1, 2018

MTS announces early repayment of USD 224.7 mln credit facility

Moscow, Russian Federation – MTS PJSC (“MTS” – NYSE: MBT; MOEX: MTSS), the leading telecommunications provider in Russia and the CIS, announces partial early repayment of the 10-year credit facility secured in 2009 and backed by Sweden’s Export Credit Agency EKN. The early repayment amounts to USD 224.7 mln.

The credit facility for a total of USD 1,074 mln consisted of two tranches and was to be finally redeemed in 2020. The facility was secured in 2009 to finance the development of MTS’ mobile networks through purchases of equipment from Ericsson. The banks facilitating the transaction were Calyon, ING Bank N.V., Nordea Bank AB and Raiffeisen Zentralbank Osterreich AG. In 2012-2013 the loan was fully hedged (i.e. converted into rubles) through cross-currency interest rate swaps.

The early repayment of the loan is a part of the Company’s debt portfolio optimization strategy aimed at decreasing of the overall cost of debt and increasing its overall tenor. The repayment is financed by the Company’s cash on hand, as well as funds recently raised through bond issuances.

* * *

For further information, please contact in Moscow:

Joshua B. Tulgan
Director, Department of Corporate Finance and Investor Relations
Mobile TeleSystems PJSC
Tel: +7 495 223 2025
E-mail: ir@mts.ru

 

 

 

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