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LPC-Vimpelcom in market for US$2bn loan
January 10, 2017 / 2:13 PM / 10 months ago

LPC-Vimpelcom in market for US$2bn loan

LONDON, Jan 10 (Reuters) - Telecommunications and digital services provider Vimpelcom is in the market for a US$2bn syndicated loan, banking sources said.

The loan, which is being arranged by Citigroup and HSBC, comprises two tranches with maturities of three and five years, one of the sources said.

Proceeds will be used for refinancing existing debt and general corporate purposes.

Vimpelcom declined to comment. HSBC and Citi did not immediately reply to a request for comment.

The Amsterdam-based company with Russian roots last tapped the loan market in April 2014, when it closed a US$1.65bn three-year revolving credit facility to replace a US$500m facility that was agreed in 2011.

Lenders on the 2014 deal, which paid a margin of 225bp over Libor, were Barclays, BNP Paribas Fortis, Citigroup, Credit Agricole CIB, Credit Suisse, Deutsche Bank, HSBC, ING, Intesa Sanpaolo, Raiffeisen Bank International/ZAO Raiffeisenbank and Societe Generale.

In November 2014 Vimpelcom agreed a US$1bn eight-year unsecured credit facility with China Development Bank and Bank of China. (Editing by Christopher Mangham)

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