Moscow, Russian Federation – MTS PJSC (“MTS” or the “Company” – NYSE: MBT; MOEX: MTSS), the leading Russian telecommunications operator and digital service provider, announces the restructuring of two existing loans from Sberbank of Russia for a total amount of RUB 35 bln. The restructuring allows a reduction of interest rates and an increase in tenor.
In December 2010, MTS raised a credit line for RUB 60 bln to refinance three previously granted loans from Sberbank of Russia, which were negotiated for the acquisition and further consolidation of COMSTAR – United TeleSystems JSC. The second credit line for RUB 40 bln, also granted in December 2010, provided necessary reserve of funds to implement the investment program related to 3G development in 2011, as well as optimized the Company’s debt portfolio. As of May 25, 2018, the total amount of debt on these loans is RUB 35 bln. MTS has improved financing terms, reduced interest rates and increased maturity in relation to these loans.
Andrey Kamensky, Vice President, Finance, Investment and M&A, MTS, commented, “MTS long-term financial strategy is focused on optimization of the Company’s debt portfolio, which implies getting more favorable conditions both in terms of interest rates and maturity of debt instruments. Restructuring of loans on better terms with our longtime partner - Sberbank of Russia - once again proved the overall improvement of lending conditions on the Russian financial market in recent years."
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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
Learn more about MTS. Visit the official blog of the Investor Relations Department at www.mtsgsm.com/blog/