MegaFon, Sberbank conclude credit agreement

PJSC MegaFon said it and Sberbank have signed an agreement to open a 35bn ruble credit line expiring in 2024. The money would be used to finance the acquisition of 15.2% of shares in Group (63.8% of voting shares).

The agreement also changes the conditions of three existing credit lines for a total sum of 97.2bn rubles taken out by MegaFon in 2012 and 2016.

The new conditions include lower interest rates and revised early repayment conditions.