VimpelCom Gets New US$1 Bln Credit Facility

(RTTNews) - VimpelCom Ltd. (VIP) said Wednesday that it has signed a new credit facility with China Development Bank and Bank of China in the amount of US$1 billion for VimpelCom Holdings BV.

The facility, which has a tenor of eight years, is unsecured and guaranteed by VimpelCom Amsterdam B.V. The newly signed US$1 billion credit facility is in addition to the US$0.5 billion credit facility signed with the China Development Bank in December 2012.

The credit facility will be used to fund capital expenditures for various operating companies. VimpelCom has been investing in high quality networks across its operations to capture the opportunity from growth in mobile data and strengthen the Company's value proposition to its customers.