Ukrtelecom partially repays syndicated loan
May 27, 2010 Interfax-Ukraine (translated by Cbonds)
OAO Ukrtelecom has paid $41.66m worth of the principal on a syndicated loan raised in 2005, as reported by Interafx-Ukraine. The loan was arranged by Credit Suisse First, Deutsche Bank and Standard Bank. In February 2010 the borrower reached an agreement on a 3-month extension paying only 25% of the due amount of $55.656m. The borrower explained the delay by deteriorating financial circumstances resulting out of the crisis in the credit markets. Mosaic Securities acted as a financial adviser on the extension.
Ukrtelecom raised the $500m syndicated loan in 2005. It started repaying it in August 2008 and continued to make semi-annual payments since then.
Company — Ukrtelecom
Full nameUkrtelecom OJSC