Nordea Bank Opened Credit Facility for MegaFon
OREANDA-NEWS. July 22, 2010. OJSC Nordea Bank has issued to OJSC MegaFon a non-revolving credit facility of 50 mUSD for 5 years, reported the press-centre of Nordea Bank.
Under the Agreement, the credit facility is not secured with collateral.
OJSC MegaFon plans to use the borrowed funds for repaying indebtedness of its Subsidiaries, financing its working capital and for other general corporate needs.
Cooperation between Nordea Group with MegaFon dates back to more than 8 years. Since 2002, the Group has actively participated in financing the operator’s rapid growth in the Russian mobile communications market. Now OJSC MegaFon is one of the leaders of the industry.
The Bank is an active partner of MegaFon in many areas including deposit, currency conversion and other transactions.