Press release from PR Newswire
VimpelCom Completes USD 1 Billion in Revolving Credit Facilities
Monday, December 12, 2011
AMSTERDAM, Dec. 12, 2011 /PRNewswire/ -- VimpelCom Ltd. ("VimpelCom" or "the Company") (NYSE:VIP) announced today that it has completed a committed revolving credit facility of approximately USD 500 million for VimpelCom Amsterdam B.V. and a separate committed revolving credit facility of approximately USD 475 million for OJSC Vimpel-Communications ("OJSC VimpelCom"). As previously stated during VimpelCom's Analyst & Investor day held on November 15, 2011, these credit facilities are in line with the overall Group strategy as they provide the Company with increased flexibility in managing its cash levels and will be used for general corporate purposes.
The three years credit facility for VimpelCom Amsterdam B.V. is committed by ten relationship banks. This facility is composed of USD 225 million and EUR 205 million and is guaranteed by OJSC VimpelCom and VimpelCom Holdings B.V.
The Company also completed a three years RUR 15 billion (approximately USD 475 million) revolving credit facility for OJSC VimpelCom with Sberbank.
VimpelCom is one of the world's largest integrated telecommunications services operators offering a wide range of wireless, fixed, and broadband services in Russia, Ukraine, Kazakhstan, Uzbekistan, Tajikistan, Armenia, Georgia, Kyrgyzstan, Vietnam, Cambodia, Laos, Algeria, Bangladesh, Pakistan, Burundi, Zimbabwe, Central African Republic, Italy and Canada. VimpelCom's operations around the globe cover territory with a total population of approximately 864 million people. VimpelCom provides services under the "Beeline", "Kyivstar", "djuice", "Wind", "Infostrada" "Mobilink", "Leo", "banglalink", "Telecel", and "Djezzy" brands. VimpelCom has more than 200 million mobile subscribers on a combined basis. VimpelCom is traded on the New York Stock Exchange under the symbol (VIP). For more information visit: http://www.vimpelcom.com.
SOURCE VimpelCom Ltd.
For further information: CONTACT: Investor Relations: Gerbrand Nijman, VimpelCom Ltd., +31 (0)20 79 77 203 (Amsterdam), Investor_Relations@vimpelcom.com or Media and Public Relations: Elena Prokhorova, VimpelCom Ltd., +7(495) 725-0708 (Moscow), firstname.lastname@example.org