Russia's Altimo secures $750 mln loan

PARIS Thu May 17, 2007 10:57am EDT

Teijo Pankko, chief financial officer of Altimo, attends the Reuters Global Technology, Media and Telecoms Summit in Paris May 17, 2007. REUTERS/Mal Langsdon (FRANCE)

Teijo Pankko, chief financial officer of Altimo, attends the Reuters Global Technology, Media and Telecoms Summit in Paris May 17, 2007.

Credit: Reuters/Mal Langsdon (FRANCE)

PARIS (Reuters) - Altimo, the telecoms investment vehicle of Russian oil-to-banking billionaire Mikhail Fridman, said on Thursday it had raised a $750 million loan with Credit Suisse (CSGN.VX) as part of a refinancing deal.

Chief Finance Officer Teijo Pankko told the Reuters Global Technology, Media and Telecoms summit in Paris that Altimo had just clinched the deal, which includes about $100 million of new money.

"It is backed by Kyivstar -- the whole stake," Pankko said.

Altimo owns 43.5 percent of Kyivstar, the second largest mobile phone company in Ukraine. Norwegian operator Telenor (TEL.OL) owns the remaining 56.5 percent.