Golden Telecom borrowed $ 275 million
The company Golden Telecom (GT) receives a loan of $ 275 million for a period of five years. This amount will provide a number of international lenders - a total of 15 banks and other financial institutions. It is already known in which projects the funds will be poured.
First, part of the money will be spent on the acquisition and development of Corbina Telecom , whose controlling 51 percent stake in GT purchased in December last year (estimated at $ 140 million). One of the main sources of revenue for Corbina is Fiber-to-the-Building (FTTB) broadband access services, and GT will invest in this area, developing it in Moscow and other five cities where the network has begun to be built. The new owner of Corbina hopes that in the next 2-3 years about 4-5 million Russian households will be covered by the FTTB network.
The second investment direction is the development of digital television and the purchase of Fortland , the acquisition of which also became known last December. GT has bought for $ 50 million 65% of the company that owns licenses for the provision of digital TV services in DVB format in Moscow and St. Petersburg, and will now finance the deployment of TV services with a set of 80 to 120 paid and free TV channels. In the future, it is expected to reach a vast audience in 22 cities of the country.
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The balance of credit will go on to continue the regional expansion of GT, which manifests itself in the consolidation of alternative operators. As it is known, GT has been engaged in asset buying in the regions since September 2005 and buys, on average, one operator per month.
Recall that on January 29, GT will expand its business with access to the market of long-distance (long-distance and international) communications, where it will compete with Rostelecom and MTT. The company announced that it will set tariffs that will be 10-65% lower than competitive ones, and is going to occupy 20% of this market by 2010, when its volume, according to GT forecasts, will reach $ 5 billion.
As noted by the Chief Financial Officer of GT, Boris Svetlichny, the loan optimizes the company's capital structure by reducing the cost and increasing the return on capital. “Entering the credit market will allow the company to strengthen its ties with the investment community, providing further opportunities to attract additional financing faster and cheaper,” he said.
The lead loan arrangers were Citibank NA, London Branch and ING Bank NV, GT reports. The terms of the loan provide for its use within 18 months with quarterly payment, which will begin in 24 months. The loan interest rate is defined as the London Inter-Bank Offered Rate (LIBOR) plus 1.5% per year for the first 24 months and LIBOR plus 2% for each subsequent year.
First, part of the money will be spent on the acquisition and development of Corbina Telecom , whose controlling 51 percent stake in GT purchased in December last year (estimated at $ 140 million). One of the main sources of revenue for Corbina is Fiber-to-the-Building (FTTB) broadband access services, and GT will invest in this area, developing it in Moscow and other five cities where the network has begun to be built. The new owner of Corbina hopes that in the next 2-3 years about 4-5 million Russian households will be covered by the FTTB network.
The second investment direction is the development of digital television and the purchase of Fortland , the acquisition of which also became known last December. GT has bought for $ 50 million 65% of the company that owns licenses for the provision of digital TV services in DVB format in Moscow and St. Petersburg, and will now finance the deployment of TV services with a set of 80 to 120 paid and free TV channels. In the future, it is expected to reach a vast audience in 22 cities of the country.
')
The balance of credit will go on to continue the regional expansion of GT, which manifests itself in the consolidation of alternative operators. As it is known, GT has been engaged in asset buying in the regions since September 2005 and buys, on average, one operator per month.
Recall that on January 29, GT will expand its business with access to the market of long-distance (long-distance and international) communications, where it will compete with Rostelecom and MTT. The company announced that it will set tariffs that will be 10-65% lower than competitive ones, and is going to occupy 20% of this market by 2010, when its volume, according to GT forecasts, will reach $ 5 billion.
As noted by the Chief Financial Officer of GT, Boris Svetlichny, the loan optimizes the company's capital structure by reducing the cost and increasing the return on capital. “Entering the credit market will allow the company to strengthen its ties with the investment community, providing further opportunities to attract additional financing faster and cheaper,” he said.
The lead loan arrangers were Citibank NA, London Branch and ING Bank NV, GT reports. The terms of the loan provide for its use within 18 months with quarterly payment, which will begin in 24 months. The loan interest rate is defined as the London Inter-Bank Offered Rate (LIBOR) plus 1.5% per year for the first 24 months and LIBOR plus 2% for each subsequent year.
Source: https://habr.com/ru/post/5008/
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