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VimpelCom To Ink $6.5B Credit Facility
VimpelCom has entered an agreement to secure a credit facility worth $6.5 billion.
VimpelComhas entered an agreement to secure a credit facility worth $6.5 billion,Bloombergreports. Half of the loan will be raised in term debt denominated in rubles and the balance in a dollar-denominated bridge piece.
The Russian mobile phone operator will use about $5 billion of the loan to acquireNaguib Sawiris’ phone assets and the remaining to refinance debt of Egypt’sOrascom Telecom Holding. The bridge loan will be provided byBarclays Capital,BNP Paribas,Citigroup,HSBC Holdings,ING GroepandRoyal Bank of Scotland.
Click here for the story fromBloomberg.