OREANDA-NEWS. December 11, 2009. Mobile TeleSystems OJSC (“MTS” – NYSE: MBT), the largest mobile phone operator in Russia and the CIS, announces that it has entered into a credit facility in the amount of up to USD 165 million backed by Export Development Canada (EDC) to be used for the development of the Company’s mobile networks.

The facility will have a maturity in December 2012 and an interest rate of 6-month LIBOR+4.5%. The facility will be used to finance advance payments to MTS vendors in the course of twelve months from the date of the signing.