Matáv
has signed today a loan agreement with Deutsche Telekom on a medium
term Hungarian forint-denominated loan. From this loan, Matáv will
finance the acquisition of majority stake in Telekom Montenegro.
Matáv takes loan from Deutsche Telekom to finance the acquisition of Telekom Montenegro
2005. 03. 21. 09:00:00
Budapest,
Matáv has been granted a loan by Deutsche Telekom in the amount of HUF
28 billion from March 22, 2005. The loan will be used for the
acquisition of the 51.12% of Telekom Montenegro (Telekom Crne Gore AD)
from the Government of Montenegro. The purchase of additional minority
shares is expected to be financed from cash generated by Matáv.
The new facility will expire in October 2009 and bears a floating rate
of interest with a 34 basis points margin over the 6-month BUBOR. Other
conditions of the loan are similar to those stipulated in the previous
agreements with Deutsche Telekom.
Matáv currently holds an A- credit rating from Standard&Poor's and Baa1 from Moody's.
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