May 17, 2007 / 1:59 PM / 10 years ago

Russia's Altimo secures $750 mln loan

<p>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)</p>

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.

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