OREANDA-NEWS. April 07, 2010. The Bank of Moscow and Mobile TeleSystems OJSC, the leading telecommunications provider in Russia and the CIS, have reached an agreement on a credit facility in the amount of RUB 22 bln.

The agreement envisages the credit facility being drawn down as required. The funds will be used to refinance current debt and finance the working capital.

Information:

Mobile TeleSystems OJSC (www.mts.ru) is the biggest telecommunications provider in Russia and the CIS. Its consolidated subscriber base consists of 97.76 million subscribers. The population of the 82 regions of Russia, plus Armenia, Belarus, Ukraine, Uzbekistan and Turkmenistan, where MTS and its subsidiaries have licences to render GSM standard services numbers over 230 million. Since June 2000, MTS shares have been quoted on the New York stock exchange under the MBT code.

In April 2008, the MTS brand became the first and only Russian brand to be rated by BRANDZ™ among the top 100 world brands, this rating being published in the Financial Times and the leading international research agency Millward Brown.