Sistema Shyam TeleServices (SSTL), which provides telecom services under the MTS, has raised a bank loan of $200 million, The Wall Street Journal reports. Gazprombank partly backed the three-year loan through a letter of credit and bank guarantee.
The loan will be used to scale up its operations. ICICI Bank and Barclays Bank provided $100 million each to SSTL, adds Reuters. Sistema Shyam is a joint venture between Russia’s Sistema JSFC and Shyam Group of India.
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