12:47 11.03.2015

Kyivstar gets first $80 mln tranche of VimpelCom loan for 3G license

1 min read
Kyivstar gets first $80 mln tranche of VimpelCom loan for 3G license

Dutch-based VimpelCom Ltd. has transferred the first $80 million tranche of its loan to Ukrainian JSC Kyivstar to pay for a 3G license in Ukraine.

"Kyivstar has received the first tranche of a loan from our 100% owner – Dutch-based VimpelCom – in the amount of $80 million to pay for a 3G license in Ukraine. The total sum of the loan is $200 million. The money is required to build a network in 2015," Kyivstar CEO Peter Chernyshov wrote on Facebook.

In accordance with Ukrainian law, 75% of the sum has been converted into Ukrainian hryvnia, he said.

The total price of Kyivstar's 3G license which was recently bought at a tender is UAH 2.7 billion.

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