RLPC-Nine banks to lead $3.66 bln loan for VimpelCom

LONDON Fri Oct 4, 2013 1:00pm EDT

LONDON Oct 4 (Reuters) - Nine banks have been mandated to lead a $3.66 billion syndicated loan for Russian mobile giant VimpelCom, which will support its reorganisation and refinance Italian subsidiary Wind Telecom's 10 billion euro debt pile, bankers said on Friday.

The loan is expected to have a maturity of up to three years and will be used to pay down Wind's senior secured bonds, which are due to mature in the next few years.

ING is acting as co-ordinator of the loan and has been mandated to lead the deal with relationship banks Intesa Sanpaolo, BNP Paribas, Credit Agricole, Deutsche Bank, Barclays, Sberbank, Royal Bank of Scotland and Letter One (a subsidiary of Alpha Bank).

The loan will be available in euros and US dollars to match the currency mix of Wind's outstanding bonds. It is expected to be priced between 300 basis points (bps) to 400 bps and pricing will increase over time, sources said.

Individual calls were held between VimpelCom and its banks on Thursday on the structure of the loan, which maybe subject to change. The loan is expected to be syndicated further.

(Editing by Tessa Walsh)