VimpelCom gets $250 million credit facility

By Sara Rosenberg

New York, Nov. 23 - Vimpel-Communications (VimpelCom) closed on a new $250 million unsecured credit facility, according to a company news release.

Citibank and Sumitomo Mitsui Banking Corp. acted as joint lead arrangers and bookrunners on the deal.

The facility consists of a $103 million term loan B with an interest rate of Libor plus 165 basis points and a $147 million revolver with an interest rate of Libor plus 150 bps.

Proceeds are being used for the development and expansion of the company's networks and for general corporate purposes, including refinancing existing indebtedness.

VimpelCom is a Moscow-based provider of mobile telecommunications services.

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