Bloomberg News

Telekom Srbija Gets 470 Million Euros of Loans for Acquisition

January 16, 2012

Jan. 13 (Bloomberg) -- Telekom Srbija AD, Serbia’s state- controlled phone company, signed 470 million euros ($596 million) of loans to fund a 380 million-euro share repurchase and refinance existing debt.

The three-year facility is split between a 320 million-euro portion funding the company’s buyback of a 20 percent stake from Greece’s Hellenic Telecommunications Organization SA, or OTE, and a 150 million-euro piece that will refinance an existing loan, according to an e-mailed statement from coordinator UniCredit SpA. The loan was signed Jan. 9.

--Editors: Chapin Wright, Faris Khan

To contact the reporter on this story: Stephen Morris in London at smorris39@bloomberg.net.

To contact the editor responsible for this story: Faris Khan at fkhan33@bloomberg.net.


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