MOSCOW May 22 Russia's largest lender Sberbank
has issued a five-year loan worth 110 billion roubles
($1.9 billion) to VimpelCom Holdings B.V., a subsidiary of
Amsterdam-based mobile network operator Veon Ltd, they
said on Monday.
Veon, previously known as VimpelCom, said in a statement the
loan would refinance the existing loans provided by Sberbank to
its Russian business and would provide additional funds for
general corporate purposes.
"The agreement to enter into a new term loan is an important
further step in continuing Veon's strategy to centralise debt at
the holding level, thus improving the capital structure of the
Group," Andrew Davies, Veon's Chief Financial Officer, said in
($1 = 56.5820 roubles)
(Reporting by Kira Zavyalova; writing by Polina Devitt; editing
by Dmitry Solovyov)