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Business news, 29.07.2008 07:29

Russia's NWT picks UniCredit to lead $200 mln loan

Russian regional fixed-line operator North-West Telecom (NWT) said on Monday it has appointed UniCredit to organise a three-year, $200 million syndicated loan.

The loan, which pays a margin of 275 basis points over LIBOR, will fund the company's investment programme and refinance short-term debt.

NWT, controlled by national telecoms group Svyazinvest, is expected to pay back the loan in equal parts quarterly, starting 15 months after signing the loan agreement, which is expected no later than Aug. 20.

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