logo
Share SHARE
FONT-SIZE Plus   Neg

VimpelCom In Multi-currency Term And Revolving Facilities Deal Of Upto $2.25 Bln

VimpelCom Group (VIP), a Dutch provider of telecommunications and digital services, announced Friday that it has successfully entered into a new multi-currency term and revolving facilities agreement or TL/RCF of up to $2.25 billion for VimpelCom Holdings B.V.

The TL/RCF will replace the existing $1.8 billion revolving credit facility signed in 2014. The term facility has a five-year tenor and the revolving credit facility has an initial tenor of three year. VIP Holdings hasthe right to request two one-year extensions to the tenor of the revolving credit facility, subject to lender consent.

Several international banks have committed to the TL/RCF in an aggregate amount of $2.108 billion. The TL/RCF includes an option to increase the amount of the facilities up to the full $2.25 billion amount, which would consist of a term facility of $562.5 million and a revolving credit facility of $1.69 billion.

VIP Holdings will have the option to make each drawdown under the facilities in either U.S. dollars or euros.

VimpelCom's Chief Financial Officer Andrew Davies said, "The agreement to enter into new multi-currency term and revolving facilities is part of VimpelCom's strategy to centralize and improve the structure of the Group's financing... . These new instruments support the Group's liquidity profile and provide the Group with greater financial flexibility."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss engineering firm ABB Ltd. announced Monday its agreement to acquire GE Industrial Solutions, the electrification solutions business of Conglomerate General Electric Co., for $2.6 billion. The acquisition includes a long-term right to use the GE brand. ABB expects the acquisition to strengthen its Number 2 position in electrification globally and expand access to North America. Dealing a potentially fatal blow to a last-ditch effort by Republicans to repeal and replace Obamacare, Senator John McCain, R-Ariz., on Friday announced his opposition to a healthcare bill drafted by Senators Lindsey Graham, R-S.C., and Bill Cassidy, R-La. Reiterating his claim that Russian meddling in last year's election is a hoax, President Donald Trump has argued that the biggest influence on the election came from the media. Trump seemed to suggest in a post on Twitter on Friday that his victory in the presidential election came despite the media's...
comments powered by Disqus
Follow RTT