VimpelCom Raises $316 Million Loan

­Russia's VimpelCom has announced that it has signed a credit line agreement with Sberbank in the amount of RUR 10 billion (US$316 million).

The loan with Sberbank bears interest at a rate of 15% per annum and to be repaid in two equal installments in August 2012 and in April 2013.

VimpelCom says that it intends to use the proceeds from the loan for refinancing of its existing indebtedness and development of VimpelCom's core business.

Posted to the site on 6th September 2009