MTS it has reduced percent
will pay off with Gazprombank on more favourable conditions
MTS has agreed about change of the terms of credit, received at Gazprombank. In December the operator has involved 300 million euro under 12 % annual, now it was possible to lower the rate to 8 %. The situation in the Russian market now allows the large companies to demand from creditors of softening of conditions on the credits received in the heat of crisis.
MTS has agreed with Gazprombank about interest rate decrease under the credit at a rate of 300 million euro to 8 % annual from 12 % established at attraction of the credit. Term of use of the credit is increased more than for one year, till September, 2012 since June, 2011. Obligations on a current credit to the amount of 150 million euro are re-structured in the Russian roubles, with sum repayment in full in September, 2012. The rate under obligations in roubles is established at level of 13 % annual. MTS and Gazprombank have signed the credit agreement in December, 2008. 50 million euro of the credit of MTS has already extinguished.
“ change of conditions of the credit agreement is a part of purposeful efforts of the company on decrease in interest rates under promissory notes. MTS already carries on negotiations with other creditors about optimizatsiip credit rates “ - Alexey Kornja has told fulfilling duties of the vice-president under the finance and investments of MTS.
the largest loan of MTS at present serves the Savings Bank. In September it has granted MTS the loan on 47 mlrd rbl. Under MTS treaty provisions not renewed demand lines of credit with limits in 25 mlrd and 22 mlrd rbl. for the term up to September, 24th, 2013 are opened. The interest rate makes 16 % annual. As has informed a press - MTS service, the involved means it is planned to use for realisation of investment programs and financing of forthcoming acquisition of 50,91 % of actions “ Comstar “. Transaction closing is expected in October, 2009. Current debt loading of MTS together with last credits makes an order 6,5 mlrd dollars
the Situation in the financial markets though has not returned to pre-crisis indicators, but was stabilised, the analyst " argues; Veles the Capital “ Ilya Fedotov: “ as the Indicator can serve “ a daughter “
“ Svyazinvest “ JUTK which in the beginning of year occupied under 19 % annual, and has now lowered the rate on new loans to 11 %. Earlier even the most safe in the financial plan players a TV set - the market were limited to that tried to optimise a debt portfolio at the expense of new more favourable loans. Now they can convince creditors to change conditions of already existing loans “.