MegaFon agrees to borrow 150 mln euros from ING for Nokia equipment

MOSCOW, Oct 30 (PRIME) -- Russian mobile operator MegaFon has signed a facility agreement for 150 million euros for eight years and a half with ING Group covered by the guarantee of Finnvera, the Finnish export credit agency, the operator said on Tuesday in a statement.

The new facility will be used to finance the purchase of fixed and wireless telecommunication equipment, software and related services from Nokia Solutions and Networks Oy (NSN), one of the world’s leading providers of advanced mobile networks, and from its Russian subsidiary Nokia Solutions and Networks LLC.

“The new facility agreement – it’s the 10th jubilee deal covered by the guarantee of Finnvera. Its signing confirms the continued trust of international financial institutions in the credit quality of MegaFon and serves as another important stage in our long-standing and successful relationship with NSN, Finnvera and ING,” MegaFon’s Executive Director Gevork Vermishyan said.

“The attractive terms of this financing will allow us to invest in the development of the network with even greater confidence and to continue to improve the quality of services for our subscribers.”

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