Nordea Bank has issued a credit line to OJSC Megafon

20.01.2011

Nordea Bank has issued a credit line to OJSC Megafon

OJSC Nordea Bank has opened to OJSC Megafon a 5-year revolving credit facility of 5.5 billion rubles.

Under the Agreement, the credit facility is not secured with collateral.

OJSC Megafon plans to use the borrowed funds for financing its working capital and for other general corporate needs.

Cooperation between Nordea Group with Megafon dates back to more than 8 years. In 2002 the Group took an active part in financing penetration of this operator into the Moscow cellular communication market. Now OJSC Megafon is an active customer of Nordea Sweden, Finland and Russia.

The Bank is cooperating with OJSC Megafon in several fields, which are not limited to lending, but also deposit, currency conversion and other transactions.

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