VTB approves long-term funding for Tele2’s import contracts

OREANDA-NEWS. VTB Bank has approved long-term financing of over RUB 15 billion in import contracts for Tele2, one of Russia’s largest mobile operators. The loans, which will mature in 6.5 years, will be insured by the exporting countries’ export credit agencies.

Tele2 will use the funds to pay for the delivery and assembly of high-tech telecommunications equipment, as well as software, licences and other telecom-related services.
«The bank has been developing trade and export financing services and continues to implement cutting-edge solutions in long-term financing despite the challenging economic situation. It is gratifying that Tele2 has maintained its status as a leading telecoms operator by adopting the latest technological solutions, in a large part thanks to our business strategy," said Yuri Soloviev, First Deputy President and Chairman of VTB Bank’s Management Board.

In 2015, the Global Trade Review magazine, a leading publication in the international trade and export finance markets, named VTB the Best Trade Finance Bank in the CIS based on its growing business and innovative strategy.