Funds News

Russia MTS secures 59 bln roubles in Sberbank loans

MOSCOW, Sept 28 (Reuters) - MTS MBT.N, Russia's top mobile phone operator, said on Monday it had secured two loans worth a combined 59 billion roubles ($1.96 billion) from state-controlled lender Sberbank SBER03.MM.

MTS said in a statement it had secured a 47 billion rouble loan maturing in 2013 with an annual interest rate of 16 percent and a separate 12 billion rouble loan due in 2011 and paying an interest of 15 percent.

MTS, part of services conglomerate Sistema SSAq.L, said it would use the loans to finance its investment programme, including the pending acquisition of a 51 percent stake in fixed-line provider Comstar CMSTq.L. (Reporting by Anastasia Teterevleva; writing by Maria Kiselyova; editing by Gleb Bryanski)