Sistema India phone unit raises $200m bank loan

Sistema's Indian mobile phone unit said on Thursday it had raised a bank loan of USD 200 million to fund its expansion of telecoms operations.

September 29, 2011 / 15:10 IST

26 Aug, 2025 12:21

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Sistema's Indian mobile phone unit said on Thursday it had raised a bank loan of USD 200 million to fund its expansion of telecoms operations.

Sistema Shyam TeleServices said in a statement it raised USD 100 million from ICICI Bank and the remainder from Barclays Bank .

The three-year loan has been proportionally secured by leading Russian lender Gazprombank through a standby letter of credit and bank guarantee, Sistema Shyam said.

first published: Sep 29, 2011 02:00 pm

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