Tuesday, November 09, 2010

On October 27, 2010, Alexey Kornya, Vice President and Chief Financial Officer of MTS, presented at the 7th Annual Russian CFO Summit hosted by the Adam Smith Conferences in Moscow. In his presentation, Alexey provided an overview of MTS’ policies aimed at optimization of the debt portfolio.  He highlighted the fact that the average cost of debt has been reduced from 11.2% in September 2009 to 8.4% in October 2010 while the average maturity of the loan portfolio has been increased from 3 to 5 years (slide 14 in the attached presentation). In line with the Company’s preference for ruble denominated debt the currency structure of liabilities has been rebalanced. According to Mr. Kornya, by the end of 2010 the foreign currency denominated debt will constitute less than 30% of the Company’s liabilities (slide 15).

A PDF version of the presentation (in Russian) can be found below for review.

 Adam Smith Conferences Presentation

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